Market Insights

Scotiabank was awarded the 2020 Latam Power Deal of the Year by Project Finance International (“PFI”), for its involvement in EnfraGen’s US$1.76 billion bank and bond deal.

Scotiabank acted as global coordinator, joint bookrunner, and joint lead arranger in what was “the largest and most impressive deal this year in the power space in Latin America”, according to PFI. With this deal, EnfraGen, an independent power producer with operations across multiple countries in Latin America, raised US$1.76 billion in debt to refinance its existing debt portfolio and fund additional growth.

Scotiabank acted as one of two global coordinators on a US$710 million 10-year debut bond issue and one of eight bank lenders on US$1.05 billion of credit facilities, including a US$725 million 5-year bank loan, for EnfraGen.

“The size and the complexity of this deal, the various geographies and the two markets of execution, made this the region’s best [power finance deal in 2020]”, according to PFI. The successful execution of this landmark transaction further strengthens Scotiabank’s leadership position in the power sector in Latin America.

Read the full story by Project Finance International here (page 57).

 

For more information, please contact:

Marc Chouchani 
Managing Director and Head, Power & Utilities and Infrastructure – Latam, Corporate Banking

Phone: 212-225-5711