Chile's AES Gener obtains $130 million refinancing facility

By Caroline Salls

Pittsburgh, Nov. 2 - AES Gener SA obtained a seven-year $130 million refinancing credit facility from a syndicate of lenders led by BNP-Paribas and Calyon that will be used to improve the conditions of a previous $73 million credit facility and to finance the final payment on its Yankee bond due in January, according to a company news release.

The facility carries an interest rate of Libor plus 65 basis points.

With this, the Santiago, Chile, power company reduced its financing expense, freed some of its assets and eliminated all significant amortization payments for the next three years, the release said.

AES Gener's chief of administration and finance Francisco Castro said the refinancing will allow the company to move forward with its expansion plans.

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