Deal details
Saesa Enel Transmisión Chile Acquisition Financing
Description
Financing acquisition by Grupo SAESA of 99.4% of Enel Transmisión Chile S.A. from Enel Chile S.A. The Sponsor is owned by Alberta Investment Management Corporation and Ontario Teacher’s Pension Plan Board.The Project represents the largest project financing in Chile to date. Enel Tx currently owns and operates 683 km of transmission lines and 57 substations under perpetual concessions. Enel Tx assets are a critical infrastructure in Chile, servicing 41% of the total population of the country, and are located in the Santiago Metropolitan Region of Chile, which is the wealthiest, most populous and industrial region in the country. In addition to existing assets, the transaction perimeter includes 39 Projects in Progress (together with existing assets), all scheduled to reach COD by 2025.
Assets involved
Companies involved
- Milbank LLP, Claro y Cia
- Clifford Chance, Barros y Errázuriz Abogados
- Banco de Crédito e Inversiones - BCI, Bank of China
- Credit Agricole CIB, EDC - Export Development Canada, Societe Generale, Santander, Scotia Bank (The Bank of Nova Scotia), Sumitomo Mitsui Banking Corporation (SMBC), Banco del Estado de Chile, Canadian Imperial Bank of Commerce (CIBC)
- Bank of China, Banco Internacional, Banco de Crédito e Inversiones - BCI
- Sumitomo Mitsui Banking Corporation (SMBC), Santander
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sociedad Austral de Electricidad (SAESA)
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC)
Key information
Sociedad Transmisora Metropolitana SpA
1178$m
01-12-2022
Power / Electricity transmission
Chile
Project & Infrastructure Finance
Not PPP
Tranche information
Term Loan
542$
Term Loan
542$m
US Dollar - USD
0
4.92 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Credit Agricole CIB | MLA | 110$m |
| Canadian Imperial Bank of Commerce (CIBC) | MLA | 110$m |
| Societe Generale | MLA | 110$m |
| Bank of China | Lender | 100$m |
| Sumitomo Mitsui Banking Corporation (SMBC) | MLA | 110$m |
Term Loan 2
88$
Term Loan
88$m
US Dollar - USD
0
5.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| EDC - Export Development Canada | MLA | 88$m |
CLP Tranche
497$
Term Loan
497$m
Chilean Peso - CLP
470,037,330,000
5.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Santander | MLA | 92$m |
| EDC - Export Development Canada | MLA | 132$m |
| Banco del Estado de Chile | MLA | 92$m |
| Scotia Bank (The Bank of Nova Scotia) | MLA | 92$m |
| Banco de Crédito e Inversiones - BCI | Lender | 66$m |
| Banco Internacional | Lender | 22$m |
L/C
50$
Letter of Credit
50$m
US Dollar - USD
0
-
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Sumitomo Mitsui Banking Corporation (SMBC) | MLA | 40$m |
| Societe Generale | MLA | 10$m |