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Sep 19, 2024 13:49 CESTIndirect subsidiaries of EnfraGen LLC, a developer, owner and operator of grid stability and renewable energy infrastructure businesses in Latin America, will next week issue USD 710 million (EUR 585.3m) worth of senior secured notes, EnfraGen’s co-owner, Glenfarne Group LLC, announced.
The issuers are EnfraGen Energia Sur SAU, Prime Energia SpA, and EnfraGen Spain SAU.
The notes will bear an interest rate of 5.375% and mature in 2030.
The proceeds from the issuance will be combined with a pari passu USD-1.05-billion bank debt package for a total of USD 1.76 billion that EnfraGen will use to refinance its existing debt portfolio and fund additional growth, Glenfarne said.
Glenfarne controls EnfraGen alongside global private markets investment manager Partners Group, on behalf of its clients.
EnfraGen has grid stability assets that supply flexible capacity and energy to local and regional grids in Latin American countries. The company’s power plants are small-scale, distributed solar photovoltaic and hydro-power assets.
EnfraGen has offices and assets in Chile, Panama, Colombia and the US.
(USD 1.0 = EUR 0.824)
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