The company will receive up to US$ 1 billion from financial institutions, a process in which Systep participated as market advisor to these institutions.

Source / La Tercera
http://www.latercera.com/noticia/negocios/2013/03/655-516076-9-aes-gener-anuncia-acuerdo-para-financiamiento-de-la-termoelectrica-cochrane.shtml

Aes Gener informed that its subsidiary Empresa Eléctrica Cochrane SpA signed a financing agreement for up to US$1 billion to develop the Cochrane thermoelectric project.

The generating company specified through an essential fact to the Superintendencia de Valores y Seguros (SVS) that the financing “will be granted by a syndicate of international financial entities formed by the Japanese export credit agency of Japan and Korea” composed of Japan Bank for International Cooperation (JBIC), Nippon Export and InvestmenT Insurance (NEXI), Korea Trade Insurance Corporation (K-sure) and Korea Finance Corporation (KoFC) and the commercial banks Sumitomo Mitsui Banking Corporation (SMBC), MizuhoBank, Bank of Tokyo-Mitsubishi UFJ and HSBC.

Banco Estado will provide a US$55 million letter of credit to guarantee the project’s obligations.

“This financing represents a major milestone in the development of the project and will allow work to begin on the project, which we estimate will take place in the next few days,” said Aes Gener.

The Cochrane thermoelectric project is being carried out by Empresa Eléctrica Cochrane SpA, whose shareholders are Inversiones Nueva Ventanas (60%), a subsidiary of Aes Gnener, and Diamond Pacific Investment Limitada (40%), a subsidiary of Mitsubishi Corporation, and involves an investment of over US$ 1,350 million.

The coal-fired thermoelectric power plant, to be located in the Mejillones Commune, Antofagasta Region, will contribute a total of 532 MW to the Norte Grande Central Interconnected System (SING) through its two units. It also contemplates a 220 KV transmission line, that is, 153 KM of extension.