Guaranteed loan for the expansion of a thermo-electrical plant

Generación Mediterránea, Standard Bank Argentina S.A., Banco Itaú Argentina S.A., Banco de Servicios y Transacciones S.A., Banco del Chubut S.A., Banco de la Nación Argentina, Banco Hipotecario S.A. and Banco de la Ciudad de Buenos Aires S.A. have successfully closed a guaranteed loan for the amount of AR$ 200,000,000.

Generación Mediterránea S.A., an Argentine company (“Generación Mediterránea”) belonging to the “Grupo Albanesi” as debtor and Standard Bank Argentina S.A., Banco Itaú Argentina S.A., Banco de Servicios y Transacciones S.A., Banco del Chubut S.A., Banco de la Nación Argentina, Banco Hipotecario S.A., and Banco de la Ciudad de Buenos Aires S.A. as lenders (the “Lenders”) have successfully closed a loan in the aggregate amount of AR$ 200,000,000 (the “Loan”). Standard Bank Argentina S.A. acted as Arranger and Administrative Agent and Banco Itaú Argentina S.A. also acted as Arranger

The Lenders granted the Loan in order to finance among other things, (i) the payment of certain debt of Generación Mediterránea; and (ii) the expansion of the Thermoelectrical Plant Modesto Maranzana.

Among the guarantees agreed by the parties to secure the full payment obligations of the Loan, Generación Mediterránea assigned certain assets to a guaranty trust and created a pledged. A Guaranty was also granted by Albanesi S.A.

Marval, O’Farrell & Mairal acted as Argentine advisor to the Lenders through a team consisting of partners Roberto E. Silva, Jr. and associates Francisco J. Cornejo and Tomás M. Córdoba.  

Marval, O’Farrell & Mairal also acted as advisor to Banco de Servicios y Transacciones S.A. acting in its capacity of collateral agent, through a team consisting of partner Fermín O. Castro Madero and associate Mariano O. Ferrero.