Atlas Renewable Energy Wins Bonds & Loans LatAm Award

Instant Max AI

(Atlas, 19.Dec.2018) — Atlas Renewable Energy has won one of the Bonds & Loans Latin America Awards 2019, in the category of Structured Bond Deal of the Year. Following more than 150 submissions from different companies, the Latin American renewable energy company, with the second largest solar base in the region, was recognized for the long-term financing program executed for its El Naranjal and Del Litoral solar PV projects in Salto, Uruguay, in partnerships with DNB Markets and IDB-Invest.

The awards program, Bonds & Loans Latin America Awards recognizes outstanding deals from across Latin American capital markets in 2017/18. The recognition of industry excellence is determined by Bonds & Loans editors based on an exhaustive selection process involving examination of case studies, in-depth feedback and discussions with market participants. This year, over 150 companies submitted cases across 10 categories.

The innovative financing method of the two Uruguayan solar energy plants combined a US Private Placement with several international investors, placed by DNB Markets, Inc. and the Inter-American Investment Corporation (IDB-Invest). The deal was arranged as an A/B Bond structure including a senior and a subordinated note tranches, with IDB-Invest as the lender of record. This type of partnership was the first of its kind, which explains why Atlas Renewable Energy was awarded the Bonds & Loans Structured Bond Deal of the Year accolade.

Atlas Renewable Energy recognizes that the financing structure utilized to secure El Naranjal and Del Litoral was innovative in the financial industry and thank their partners, both IDB Invest and DNB Markets for their instrumental collaboration on a project that pushed the envelope for the industry. Not only did Atlas Renewable Energy place an investment grade senior tranche, but also a sub-investment grade subordinated tranche with private investors, both at very attractive rates and long tenors.

Atlas Renewable Energy Head of Structured Finance, Michael Shea, says: “This award represents a step forward for Atlas Renewable Energy, as we expand our footprint throughout Latin America. Atlas Renewable Energy remains on the constant lookout for new opportunities to grow and innovate with great industry partners, such as DNB Markets and IDB Invest.”

Atlas Renewable Energy’s solar base totals 1.2 GW of contracted projects across Latin America including Sol Do Futuro, Juazeiro and Sertão Solar (Brazil), Quilapilún (Chile), El Naranjal and Del Litoral (Uruguay), and Guajiro (Mexico).

As solar energy production is on the rise, and the sector is estimated as a $160.8bn global industry, Atlas Renewable Energy will continue partnering with great financial institutions to fund more projects that can bring clean energy to Latin America.

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