Clifford Chance advises FMO and Proparco on purchase of senior notes issued by Argentine renewable energy company

Clifford Chance advises FMO and Proparco on purchase of senior notes issued by Argentine renewable energy company

Global law firm Clifford Chance has advised Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) and Société de Promotion et de Participation pour la Coopération Économique S.A. (Proparco), as investors purchasing US$90 million in aggregate principal amount of 7.750% senior notes due 2033 (the Notes) issued by Genneia S.A. (Genneia) under Section 4(a)2 of the US Securities Act of 1933, as amended (the Securities Act). The Notes were issued with the same terms and as part of the same class of notes for an aggregate principal amount of US$400 million, concurrently issued by Genneia in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act.

Genneia is one of the largest renewable energy companies in Argentina in terms of installed capacity, with a diverse portfolio of wind and solar power generation facilities.

The team advising on the transaction was led by partner Hugo Triaca (New York) with support from associate Cristian Ragucci (São Paulo) and associates Paula Ferreira and Agata Radajczyk (New York).

Clifford Chance advises on many transactions in Argentina's energy sector, most recently on the successful senior notes reopening by energy company EDENOR and on the notes issuance by electricity distribution company EDEMSA.