Milbank, Tweed, Hadley & McCloy has represented JP Morgan and Scotiabank as underwriters of a $300 million offering by leading Chilean transmission company Transelec S.A., whose more than 5,100 miles (8,239 km) of high-voltage transmission lines serve approximately 98% of Chile’s population.

The 4.625% notes mature in 2023. New York-based Securities partner Carlos Albarracín led the Milbank team, which also included associates Matthew Squires, Pablo Echeverri, and Gabriella Britto, and international attorney María Camila Bagés Mesa.

Mr. Albarracín said, “We are very pleased to assist in this offering by Transelec, Chile’s largest power transmission company, the first dollar-denominated issuance the company has made in a number of years.”

Transelec S.A. is wholly owned by a consortium composed of Toronto-based Brookfield Asset Management, Canada Pension Plan Investment Board, British Columbia Investment Management Corporation, and Public Section Investment Board.

The transaction follows Milbank’s recent involvement in other high level Chilean deals such as, representing initial purchasers in leading telecommunications provider Telefónica Chile S.A.’s issuance of senior notes; and, representing leading Chilean retailer Cencosud in its sale of US$1.2 billion in 10-year bonds to finance its acquisition of a large portfolio of assets in Colombia formerly owned by French retail giant Carrefour S.A.