Albanesi Group Completes Debt Exchange Offer and Consent Solicitation
12.07.21
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Simpson Thacher represented Generación Mediterránea S.A. (“GEMSA”) and Central Térmica Roca S.A. (“CTR” and, together with GEMSA, the “Albanesi Group”) in connection with their (i) offer to exchange any and all of their outstanding US$336 million 9.625% Senior Notes due 2023 (the “existing notes”) and certain outstanding US$51 million loans (the “existing loans”) for new 9.625% Senior Notes due 2027 (the “new notes”), and (ii) solicitation of consents of the holders of the existing notes to amend certain provisions of the indenture pursuant to which the existing notes were issued. 80% of the existing notes and 100% of the existing loans were tendered and accepted in the exchange offer.
The Albanesi Group is one of the leading electricity generation groups in Argentina, operating nine thermoelectric power plants.
The Simpson Thacher team included Juan Francisco Mendez, Juan Naveira, Antonio Ribichini and Jon Vicuña (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).