Cleary Gottlieb represented longtime client Colbún, a Chilean electric power company, in a $250 million term loan transaction with The Bank of Tokyo-Mitsubishi UFJ as Administrative Agent, together with DNB Group, Agencia en Chile and Sumitomo Mitsui Banking Corporation, as Lenders.
Colbún expects to use the proceeds from the loan to repay existing debt and for other general corporate purposes. The credit agreement was signed on October 7 and the loan, which was drawn on October 15, is scheduled to mature in 2018.
