Gatun, S.A. and AES Panama’s Syndicated Loan

Morgan & Morgan and Shearman & Stearling advised Gatún, S.A. y AES Panamá S.R.L..
Paul Hastings and Icaza, González-Ruiz & Alemán advised the lenders.
SIGMA Abogados advised InterEnergy Group

Generadora de Gatun, S.A., as borrower, and AES Panama, secured the financing for the development, design, engineer, procurement, construction, commissioning, testing, start-up, operation, and maintenance of an approximately 670-megawatt combined-cycle natural gas-fired power plant, together with all interconnections and certain associated infrastructure, to be located on Telfers Island, province of Colon, Republic of Panama.

This complex financing, one of the largest infrastructure projects in Panama, involved legal teams from several jurisdictions.

In Panama, Morgan & Morgan advised Generadora de Gatun, S.A. and AES Panama with Kharla Aizpurua Olmos (Picture), Ramon Varela and Miguel Arias M..

Shearman & Stearling advised Gatun, S.A. and AES Panama in US.

Paul Hastings advised Sumitomo Mitsui Banking Corporation (SMBC); Natixis, Bank of China, Industrial and Commercial Bank of China Limited (ICBC); Intesa Sanpaolo; Banco Sabadell, S.A.; The Bank of Nova Scotia (Scotiabank); Société Générale; Banco Aliado, Banco Nacional de Panamá, Caja de Ahorros and Mega ICBC Bank with a team including Robert (Bob) Kartheiser,  Maria (Male) Tobia, Louise Toledo Farias, Bruna Rey, Anna Barbosa, Eduardo Morandé, Matthew Smith and Joyce Xu.

In Panama, Icaza, González-Ruiz & Alemán advised Sumitomo Mitsui Banking Corporation (SMBC) and Natixis with Gabriel González-Ruiz, Luis A. Chalhoub M., Alfredo R. Fonseca Zauner.

SIGMA Abogados advised InterEnergy Group on the deal.

 

Involved fees earner: Luis Chalhoub M. – Icaza, González-Ruiz & Alemán ; Alfredo Fonseca Zauner – Icaza, González-Ruiz & Alemán ; Gabriel González-Ruiz A. – Icaza, González-Ruiz & Alemán ; Kharla Aizpurua Olmos – Morgan & Morgan; Miguel Arias – Morgan & Morgan; Ramon Varela – Morgan & Morgan; Anna Barbosa – Paul Hastings LLP; Robert Kartheiser – Paul Hastings LLP; Maria Leonor Tobia – Paul Hastings LLP; Eduardo Morandé – Paul Hastings LLP; Bruna Rey – Paul Hastings LLP; Matthew Smith – Paul Hastings LLP; Louise Toledo Farias – Paul Hastings LLP; Joyce Sophia Xu – Paul Hastings LLP;

Law Firms: Icaza, González-Ruiz & Alemán ; Morgan & Morgan; Paul Hastings LLP;

Clients: AES Panama Generation Holdings, S.R.L.; Banco Aliado, S.A.; Banco Nacional de Panamá; Banco Sabadell; Bank of China; Caja de Ahorros; Generadora de Gatún SA; Industrial and Commercial Bank of China; Intesa Sanpaolo S.p.A.; Mega International Commercial Bank Co.; Natixis; Scotiabank; Société Générale; Sumitomo Mitsui Banking Corporation;

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Author: Ambrogio Visconti