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Allen & Overy advises on AMP Capital and Enel X joint venture to advance electric public transportation in Chile

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Mir Sami
Sami Mir

Partner

Washington, D.C.

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Lee Jean
Jean Lee

Partner

Washington, D.C.

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Ashley Jillian
Jillian Ashley

Partner

New York

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Image of Nicole Ubal
Nicole Ubal

International Associate

Washington, D.C.

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Sagarika Sridhar

Associate

New York

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07 September 2020

AMP Capital, a global investment manager, and its joint venture partner Enel X, Enel Group’s advanced energy services business line, have raised approximately $130 million in debt financing to be used for the electrification of the bus fleet for the public transit system of Santiago, Chile. Allen & Overy’s Projects, Energy, Natural Resources and Infrastructure (PENRI) group advised lenders to the joint venture BNP Paribas, Société Générale and Sumitomo Mitsui Banking Corporation, which closed the 10-year term loan.

The public-private partnership will bring 433 electric buses to Santiago, which will be operated by local company Metbus.

“This transaction represents a significant milestone in the push for electrification in the Chilean public transportation system,” said Sami Asad Mir, Partner at Allen & Overy. “This furthers Allen & Overy’s work with international financiers investing in green loans in the Latin American infrastructure sector, and we look forward to more projects in the future.”

AMP Capital owns an 80% stake in the partnership and Enel X owns the remaining 20% stake. Scotiabank Chile provided a CLP-denominated VAT facility for approximately $24 million with a 1.5-year tenor.

“We are grateful to the lenders and sponsors for trusting the Allen & Overy team to bring this transaction to a close,” said Jillian Ashley, Partner at Allen & Overy.

The Allen & Overy team was led by PENRI partners Sami Asad Mir, Jean Lee and Jillian Ashley with support from associates Sagarika Sridhar and Nicole Ubal.

For further insights regarding Allen & Overy’s Projects, Energy, Natural Resources and Infrastructure Group, please contact Meredith Mitchell at pro-a&o@prosek.com.

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