An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
SMBC Latin America Closes Landmark Renewables Transaction With $710 Million Bond Issuance, One of the Largest Private Placement in Region’s Recent History
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary
SMBC and SMBC Nikko Securities America announced a significant achievement with the completion of a major private placement in Latin America, facilitating Aela Generación S.A.’s $710 million green bond issuance. This funding partially finances the acquisition of Aela, which has a renewable energy capacity of 609MW, and supports the installation of a battery energy storage system. The successful execution underscores SMBC's leadership in project finance and the strategic role of its teams in delivering comprehensive financial solutions for clients.
Positive
Successfully closed a $710 million green bond issuance for Aela Generación S.A.
Reinforced leadership in Project and Structured Finance in Latin America.
Facilitated Aela's acquisition which adds 332 MW capacity to Innergex's portfolio.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
SMBC and SMBC Nikko Securities America, Inc., members of SMBC Group, announced the completed execution of one the largest private placements in Latin America in recent history, refinancing Innergex’s Chilean platform, with several businesses playing integral roles in the deal’s success. The deal involved the close of Aela Generación S.A.’s $710MM green bond issuance, the proceeds of which were used to partially finance the Aela acquisition, refinance all existing debt in a portfolio of 609MW, and fund the installation of a battery energy storage system.
“The closing of this transaction demonstrates the well-coordinated effort among several deal teams that brought market-leading execution on large and complex transactions such as Innergex’s private placement,” said David Gonzalez,Managing Director and Head of Project & Structured Finance-Latin America. “We want to thank everyone involved for their hard work resulting in another successful transaction, further strengthening our team’s leadership in Project and Structured Finance in Latin America.”
SMBC Nikko Securities America, Inc. closed its first buy-side transaction in Latin America on June 9, acting as an exclusive buy-side advisor on a $686MM deal for Innergex Renewable Energy Inc. (Innergex). This completed Innergex’s acquisition of Aela, a wind portfolio with a capacity of 332 MW across three fully operating assets (Sarco, Cuel, and Aurora), in one of the most visible M&A transactions in the region. SMBC Group played multiple significant roles in these transactions, with SMBC Nikko Securities America, Inc. serving as the buy-side advisor for the Aela acquisition, and as sole lead placement agent and Rating Advisor for the U.S. Private Placement; SMBC Group also acted as exclusive financial advisor for the refinancing, Green Bond Coordinator, and sole issuing bank of reserve account letters of credits required under the bond.
“The strategic value that our deal and banking teams have provided to Innergex, playing multiple leadership roles, is a clear testament to the strong progress that we have made as an organization in our efforts to align seamlessly and holistically across various disciplines and entities to deliver efficient and value-added solutions to our core clients,” said Carl Adams, Deputy Head of the Americas Division.
About SMBC Group
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 140 offices and 86,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges. As of March 31, 2022, its total assets were $2.11 trillion.
In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. For more information, please visit www.smbcgroup.com.
About Innergex
For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world. Innergex conducts operations in Canada, the United States, France and Chile and manages a large portfolio of high-quality assets currently consisting of interests in 84 operating facilities with an aggregate net installed capacity of 3,484 MW (gross 4,184 MW) and an energy storage capacity of 159 MWh, including 40 hydroelectric facilities, 35 wind farms, 8 solar farms and 1 battery energy storage facility. Innergex also holds interests in 13 projects under development with a net installed capacity of 731 MW (gross 768 MW) and an energy storage capacity of 745 MWh, 3 of which are under construction, as well as prospective projects at different stages of development with an aggregate gross installed capacity totaling 7,495 MW. Its approach to building shareholder value is to generate sustainable cash flows, provide an attractive risk adjusted return on invested capital and to distribute a stable dividend.
