MANDATE: ENERGUATE - FIXED INCOME INVESTOR MEETINGS
Distribuidora de Electricidad de Occidente S.A. (“DEOCSA”) and Distribuidora de Electricidad de Oriente S.A. (“DEORSA”, and collectively with DEOCSA, “Energuate”), the largest energy distribution company in Guatemala and Central America by population, has mandated Deutsche Bank Securities, J.P. Morgan, and Santander as Joint Bookrunners to arrange a series of fixed income investor virtual meetings starting on September 8, 2025.
Energuate Trust 2.0, a newly established Cayman Islands Trust for the purpose of the A/B structure with the participation of the International Finance Corporation (“IFC”), may issue a new 10NC5 USD-denominated 144A/RegS benchmark-sized senior unsecured offering (the “Notes”), subject to market conditions.
Energuate Trust 2.0 expected rating is Ba2 by Moody’s and BB by Fitch.*
The Notes will be used to purchase, pursuant the Participation Agreement, the participation in the B Loan made by IFC to the Energuate pursuant the Loan Agreement. Energuate, intends to use the proceeds from the Loan to (i) repay in full all amounts outstanding under the Credit Suisse Agreement, which repayment funds, in turn, will be used by Energuate Trust to redeem in full the 2027 Notes, (ii) prepay up to US$270 million of the amount outstanding under the Banco Industrial Loan Agreement, (iii) fund capital expenditures and for general corporate purposes and (iv) pay transaction fees and expenses associated with the incurrence of the Loan and the offering of the Notes.
Santander will be coordinating logistics.
The issuer will be represented by:
1. Cristian Fierro, Vice President of the Board of Energuate
2. Paulo Parra, CEO of Energuate
3. Mario Chevarria, CFO of Energuate
4. Maximiliano Graña, Chairman of the Board at Energuate and CEO at Infracorp
5. Felix Arenas, VP at InfraCorp
Investor Login Details
Entry Code: ENERGUATE25
Direct Link: https://dealroadshow.com/e/ENERGUATE25
09:16:37
Energuate Notes
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- Exp Ratings: Ba2/-/BB
- Size: c. $600m
- Tenor: 10yr
- UoP: Call 2027s + Refi Bank debt + Remainder Capex + GCP
- A/B structure; IFC as lender of record and holder of $100m A-tranche
- Timing: RS meetings Mon - Wed (Sep 8-10) | Pricing as early as Thu, Sep 11
Meetings every hour on the hour (break at noon EST)
- Santander RS logistics