14 Oct 2025

"Clifford Chance Advises on Luz del Sur's $396 Million Notes Offering"

"Clifford Chance has advised BofA Securities, J.P. Morgan Securities, and Santander US Capital Markets on Luz del Sur's US$396 million issuance of 6.750% notes due 2032. This marks Luz del Sur's first entry into the international capital markets. The advisory team was led by partner Hugo Triaca in New York, with contributions from various associates and partners across multiple locations."

Clifford Chance, along with He Ping Law Firm, participated in the transaction by advising BofA Securities, J.P. Morgan Securities, and Santander US Capital Markets as initial purchasers in Luz del Sur’s US$396 million offering of 6.750% notes due 2032. Luz del Sur, one of the largest electric power distribution companies in Peru and indirectly owned by China Three Gorges Corporation, successfully completed its first notes issuance in the international capital markets through this offering. The Clifford Chance team was led by partner Hugo Triaca in New York, with support from associates Joyce Moore and Alexandra Machado, foreign lawyer Juan Andrés Bosch in Madrid, and partner David Tsai and senior associate Kenneth Ip in Hong Kong. Additionally, partner Avrohom Gelber and law clerk DyTiesha Dunson provided tax advice. International partner Kimi Liu from He Ping Law Firm in Shanghai also contributed to the transaction.
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