AES Closes Jumbo Chilean Power Loan

AES Closes Jumbo Chilean Power Loan

Chile Loans

The AES Gener and Mitsubishi-sponsored Cochrane power plant has closed a $1bn loan, in what people familiar with the deal say is the largest-ever power financing in Chile and the first Japanese-sponsored independent power project in South America. A 17-year $250m tranche pays Libor+200bp, includes Bank of Tokyo-Mitsubishi, Mizuho and Sumitomo Mitsui (SMBC), and is guaranteed by Japanese export bank Nexi. A second 17-year $250m tranche pays Libor+210bp, includes HSBC, Mizuho, Korea Finance Corpor

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