Allianz Global Investors has secured a US$88.5 million worth of notes issued by Parque Eolico Kiyu SA to refinance the Kiyú Wind Farm located in Uruguay's San Jose district.
Allianz was the sole purchaser of fixed-rate 22-year notes in a 4(a)(2) private placement to refinance indebtedness incurred to develop the wind farm. Credit Agricole Securities (USA) Inc. acted as the placement agent and Zero-E Dollar Assets, S.L., a subsidiary of Spanish construction group Cobra, was the sponsor.
The wind farm has a capacity of approximately 49.2 MW. The project has a long-term power purchase agreement with Uruguay's state-owned company Administración Nacional de Usinas y Trasmisiones Electricas.
Baker McKenzie acted as the transaction advisor to Parque Eólico Kiyú for the deal. The notes were issued in December 2019.
