The company Kallpa Generation SA, the largest electricity generator in Peru, achieved a successful placement of bonds in the international market for US $ 500 million. Capital will be intended to proactively refinance its Kallpa 2026 bonus for US $ 350 million and finance part of the construction of its new Sunny solar project, a 309MW plant, located in Arequipa.
Kallpa Generation maintains the investment grade by the international rating agencies of Moody’s and Fitch (BAA3 and BBB-, respectively).
The Operation had great interest from the international capital market. The transaction occurred after the culmination of a ‘roadshow’ with more than 28 meetings, 89 investors and 4 full days.
The demand for the papers six -supply to the supply, showing an important envelope that reached more than US $ 3,000 million.
This demand volume and the final rate obtained reflects the strength of the company with more than 9 years in the capital market as an investment grade. It also demonstrates the confidence of the international market in Kallpa Generation, the company’s prospects to continue its investments with a solid capital structure and the stability perceived by investors in the Peruvian electricity sector in the long term.
Regarding the characteristics of the issuance, the company explained that it was an international placement under 144a regs format with a coupon of 5,875% and a period of 7 years, Bullet.
The broadcast was managed internationally by Deutsche Bank, JP Morgan and Santander.
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