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Crédit Agricole CIB has successfully closed a $100 million Senior Secured Revolving Credit Facility with Allegiant Travel Company (NASDAQ: ALGT), enhancing the airline's liquidity and support for its fleet investments. This financing marks an extension of their relationship established in 2015. The facility's structure includes a new requirement for Allegiant to secure a portion of its borrowing base with new technology assets as it takes delivery of Boeing 737 MAX aircraft and LEAP 1B engines over the next three years. This move aligns with Allegiant's ongoing ESG initiatives, emphasizing a commitment to reducing emissions in its operations.
Crédit Agricole CIB Canada has established a new corporate coverage team for Quebec and eastern Canada, led by Sandrine Wasukama. With 15 years of experience, Wasukama aims to support large corporates and global industry leaders both locally and internationally. This team complements the existing Toronto-based team and enhances Crédit Agricole CIB's service to major corporates across Canada. Sandrine's background includes senior roles at Investissement Quebec and HSBC, alongside her membership in CPA Quebec and the Association of Quebec Women in Finance.
Crédit Agricole CIB has successfully raised $118 million in project finance debt for the 165.3 MW Project Atacama, a greenfield wind farm in Chile, developed through a joint venture between Repsol and Ibereólica. The financing was oversubscribed, reflecting strong interest due to its tailored structure that maximizes debt against both contracted and merchant cash flows. This project is part of the joint venture's commitment to renewable energy and sets a benchmark for future developments. Crédit Agricole CIB has established a solid presence in Chile's renewable sector, with multiple advisory transactions since 2020.
Crédit Agricole Corporate and Investment Bank has appointed Gerard Vincitore as the new Head of Structured Finance Advisory in New York, effective May 2, 2022. Vincitore, who joined the bank in 2016, previously led the North American Structured Finance Advisory Group and has extensive experience in the power and utilities sector. He will report to Matthew Norman globally and Olivier Audemard locally. This strategic appointment aims to enhance advisory services across North and Latin America, reflecting the bank's commitment to growth in structured finance.
Crédit Agricole CIB has appointed Ghislain Descamps as the new Senior Country Officer for Canada, effective March 2, 2022. Mr. Descamps brings extensive experience, having led the Multinational Corporation Coverage Team in the Americas since 2014 and contributing to the growth of the MNC business. He has a solid background in banking, previously managing regions in France and working with various international clients. His leadership is expected to enhance Crédit Agricole's Canadian platform and foster sustainable investments in the region.
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Crédit Agricole CIB successfully advised on a $980 million project finance deal for Generadora Metropolitana, a major energy platform in Chile supplying 8% of the country's electricity. This financing is the largest non-recourse transaction in Chile for this year, supporting the construction of a 480MWp renewable energy plant. The funds will also help convert a 132MW diesel plant to natural gas. The deal attracted significant interest from banks and investors, underscoring Crédit Agricole CIB's strong position in the Chilean market.
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