YPF Energía Eléctrica obtains US$ 150,000,000 in a project finance facility from BNPP and DFC for the development of a greenfield wind power project

Legal counsel to BNP Paribas Fortis SA/NV and United States International Development Finance Corporation (DFC) in a facility worth US$ 150,000,000 under a non-recourse project finance structure to Luz del León S.A., a special purpose vehicle controlled by YPF Energía Eléctrica S.A, to finance the development and construction of the Cañadón León wind power project for a total 120 MW of generation capacity, located in the Department of Puerto Deseado, Province of Santa Cruz, Argentina.

The transaction is the first non-recourse project financing that will supply electricity under two PPAs: a 20-year PPA with CAMMESA under the RenovAr regime, and a 15-year corporate PPA under the MATER regime, both regimes under Argentina’s renewable energy legal framework. The BNPP part of the facility is guaranteed by Euler Hermes Aktiengesellschaft (German export credit agency).

The security package for the loan includes (i) a first-priority share pledge over 100% of Luz del León shares; (ii) a first-priority pledge over certain windfarm equipment; and (iii) a security trust for the assignment of all borrower’s receivables under certain project documents.


Debt refinancing of Biscayne Servicios S.A.

Legal counsel to Banco Santander Rio S.A. and Banco de la Provincia de Buenos Aires who acted as lenders in the debt refinancing of Biscayne Servicios S.A. for AR$ 491,630,864.74, equivalent to 10,595,493 UVAs.


KfW IPEX-Bank grants a portfolio project finance facility for the development and construction of the wind farms Chubut Norte III and Chubut Norte IV

 

KfW IPEX-Bank grants to Genneia Vientos Sudamericanos S.A. and Genneia Vientos Patagónicos S.A, two special purpose vehicles fully owned by Genneia S.A., a joint facility worth US$ 131,550,636 under a non-recourse portfolio project finance structure under the RenovAr programme, for the development and construction of the wind farms Chubut Norte III and Chubut Norte IV (which will be located in the Chubut province), totaling 140.88 MW of combined generation capacity.


Ensenada de Barragán thermal power plant sale

 

 

Integración Energética Argentina S.A. (“IEASA”), undertook the National and International Public Bid No. CTEB 02/2019 (the “Public Bid”) by means of which the “Ensenada de Barragán” power plant was sold and transferred, according to the terms and conditions disposed by Decree No. 882/2017 of the Executive Branch and Resolution No. 11-E/2018. As a result of the Public Bid, IEASA awarded to YPF S.A. and Pampa Cogeneración S.A., as sponsors of CT Barragán S.A.


Secured loan for an aggregate amount of up to US$ 150,000,000 granted by the International Finance Corporation to the Province of Córdoba

Tavarone, Rovelli, Salim & Miani assisted on the structuring of a cross-border secured loan for an aggregate amount of up to US$ 150,000,000 granted by the International Finance Corporation (“IFC”) to the Province of Córdoba to finance capital expenditures in connection with the Borrower’s transport sector investment plan. The loan is secured by a trust agreement entered into by the Province as trustor, Banco Comafi S.A. as trustee and IFC as beneficiary.


U$S 17,911,496 facility agreement granted by HSBC Bank plc. to Papelera San Andrés de Giles S.A.

Legal counsel to HSBC Bank plc., as coordinating arranger, mandated lead arranger and lender, and HSBC Securities USA Inc., as mandated lead arranger, in a loan granted to Papelera San Andrés de Giles S.A. for an aggregate amount of U$S 17,911,496 guaranteed by EKN (Exportkreditnämnden), the export credit agency of Sweden, for the acquisition of a paper machine made in Sweden.


Up to US$ 395 million loan granted to Albanesi Energía S.A. and Generación Centro S.A.

Legal counsel to Credit Suisse AG London Branch, as administrative agent, Credit Suisse AG Cayman Islands Branch, UBS AG Stamford Branch, BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A. and Banco de Inversión y Comercio Exterior S.A. as lenders in an up to US$ 395,000,000 loan granted to Albanesi Energía S.A. and Generación Centro S.A. (2018)


AR$ 370 million syndicated loan granted to Energía San Juan S.A.

Legal counsel to Banco de Servicios y Transacciones S.A., Banco de San Juan S.A., Banco Itaú Argentina S.A., BBVA Banco Frances S.A. Banco de la Ciudad de Buenos Aires S.A. and Banco Comafi S.A., as lenders, and Banco de Serivicios y Transacciones S.A. as administrative agent and co-arranger and BBVA Banco Francés S.A. as co-arranger, in a syndicated loan granted to Energía San Juan S.A. for an aggregate of AR$ 370,000,000. (2018)


USD 40 million syndicate loan granted to Generación Mediterránea S.A.

Legal counsel to Generación Mediterránea S.A. as borrower, in a syndicate loan granted to Generación Mediterránea S.A. for an aggregate of USD 40,000,000 (2017).


US$ 16,480,000 financing facility granted to Alba Jet S.A. (a company of Grupo Albanesi) by Export Development Canada

Legal counsel to Alba Jet S.A. (a company of Grupo Albanesi) regarding financing facilities granted for US$ 16,480,000 aimed at acquiring an aircraft. (2017).