Carey
Isidora Goyenechea 2800, las Condes Piso 42 755-0647 Santiago, Chile
Tel:(+56 2)29282200, Fax:(+56 2)29282200, E-mail: carey@carey.cl
Latin Lawyer

American General Life Insurance Company and other foreign institutional investors in a private offering

19 October, 2017 by Christina McKeon Frutuoso

Norton Rose Fulbright and Winston & Strawn LLP in New York and Carey in Santiago have advised American General Life Insurance Company and other foreign institutional investors in a US$412 million private offering by a subsidiary of Chilean power generation company Latin America Power (LAP).

Greenberg Traurig LLP in New York and Barros, Silva, Varela & Vigil Abogados Ltda in Santiago advised Inversiones Latin America Power.

The offering closed on 28 September and is fully secured by subsidiaries of the issuer. It refinances existing project finance for LAP renewable energy projects selling output at the spot market price.

Norton Rose and Winston & Strawn both advised the institutional investors. Partner Claude Serfilippi, who led the deal for Winston & Strawn, used to be at now-defunct Chadbourne & Parke. In July, a team of former Chadbourne & Parke lawyers, who had recently joined Norton Rose following its absorption of their former firm, quit to join Winston & Strawn, denting Norton Rose’s New York Latin America practice.

Latin America Power’s cross-border offering aims to refinance the existing financing for two of its high-capacity wind farms, San Juan and Totoral, which have a combined capacity of 230 megawatts.

 
Counsel to Latin Lawyer

Norton Rose Fulbright

Partner Marwan Azzi, counsels Clare Karabarinde and Lee Gordon and associate Vincent Elhayek in New York

Winston & Strawn LLP

Partner Claude Serfilippi in New York

Carey

Partner Felipe Moro, counsel Patricia Silberman, and associates Matías Vergara, Manuel Alcalde, Fernando Noriega, Carmenmaría Poblete, Loreto Ribera, Sophia Bobadilla, María José Martínez, Patricia Montt and Valentina Vizcay in Santiago

Counsel to Inversiones Latin America Power Limitada (ILAP)

Greenberg Traurig 

Partners Marc Rossell, Richard Kim, Michael Kelly and Mary Voce, and associates David Hong and Tammy Lam in New York

Barros, Silva, Varela & Vigil Abogados Ltda

Partners Fernando Barros and Juan Francisco Varela, and associates Josefina Castro, María Jesús Hernández and Cristian Stewart in Santiago