Grupo LAREIF currently operates eight power generation plants, all of them run-of-river hydroelectric power plants in the Department of Antioquia. These plants have been incorporated to the National Interconnected System (SIN) since July 2007. The five plants that obtained refinancing from Bancolombia are: Caruquia (Santa Rosa de Osos), Guanaquitas (Gómez Plata), Barroso (Salgar), Popal (Cocorná) and CH San Miguel (Cocorná).
"We are pleased to have advised Bancolombia in this interesting transaction and to have worked hand in hand with Grupo LAREIF and its advisors," said Holland & Knight Partner María Juliana Saa, who led the representation.
The debt refinancing consisted of a new credit facility for $275 billion pesos (approx. US$71.7 million) and the re-profiling of a leasing facility for $75 billion pesos (approx. US$19.5 million). The financing was closed on September 7.
The Holland & Knight team advising Bancolombia was led by Ms. Saa and Partner Lucas Saffon-López with the active participation of Associate Alberto Mario Vergara.