Simpson Thacher represented Generación Mediterránea S.A. (“GEMSA”), Generación Frías S.A. (“GFSA”), and Central Térmica Roca S.A. (“CTR” and, together with GEMSA and GFSA, the “Issuers”), as co-issuers, and Albanesi S.A., as guarantor (“Albanesi”), in connection with the inaugural high yield notes offering consisting of US$250 million aggregate principal amount of 9.625% Senior Notes due 2023, in reliance on Rule 144A and Regulation S.
The Issuers and Albanesi are part of the Albanesi group, one of the leading electricity generation groups in Argentina that operates eight thermoelectric power plants located in various provinces of the country.
The Issuers will use the proceeds from the offering to repay secured indebtedness, fund capital expenditures relating to the expansion of generation capacity in Argentina and for general corporate purposes.
The Simpson Thacher team included David L. Williams, Juan F. Mendez, Juan M. Naveira and Pablo M. Richards (Capital Markets); and Jonathan Cantor and Jacqueline B. Clinton (Tax).