The portfolio of transmission projects in Chile totals more than 550km of transmission lines and 8 substations and consists of one operating asset and two construction assets (CASTE and MATE) to be built over the coming four years. The CASTE project (itself made up of 3 subprojects) is expected to benefit up to 50% of the national population, operating in one of the most densely populated areas of the country and the MATE project (itself made up of 11 subprojects) is expected to benefit 17.6% of the national population.
The portfolio forms part of the national transmission grid in Chile where revenues from the assets are based on availability payments which will be reset after 20 operating years.
Astris Finance served as the exclusive financial advisor to Celeo Redes during the financing process. The financing amounted to USD 365 million which was issued via a private placement, fully subscribed by Allianz Global Investors. The debt has a total tenor of 30 years and a weight average life of over 20 years. This is one of the largest private placements in the region to date and the first at this tenor with a greenfield / brownfield mix. The transaction closed in December 2019.