Leading international law firm Clifford Chance has advised Itau BBA USA Securities, Inc. as sole dealer manager, in connection with a tender offer by Transportadora de Gas Internacional S.A. E.S.P. (TGI), a public utility company organized under the laws of the Republic of Colombia, and the largest natural gas transportation company in the country, in terms of kilometers of pipeline assets, according to the Colombian Mining and Energy Planning Unit (Unidad de Planeación Minero Energética). Pursuant to the tender offer, TGI repurchased US$155,854,000 in aggregate principal amount of its outstanding 5.550% Senior Notes due 2028, thereby significantly reducing its foreign exchange risk.
The Clifford Chance team comprised partners Hugo Triaca and Avrohom Gelber, attorney David Rondon, associate Wei Bin Tan and foreign law clerk Adriana Cabal Gutierrez.
Clifford Chance advises on many liability management transactions in Latin America, including PETROPERU’s consent solicitation and CTM’s tender offer and consent solicitation.
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