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April 21, 2015

Cobra’s subsidiary Parque Eólico Marcona obtains US$70 million loan

Miranda & Amado Abogados has advised the Andean Corporation of Foment (CAF, for its Spanish acronym) as subordinate lender of a US$70 million loan given to Parque Eólico Marcona. The credit documents were signed on January 9th and the closing date was April 6th.

The loan will be used to complete construction of the 32-megawatt wind farm and to repay a US$35 million short-term loan provided by CAF and Natixis last year. The park is located in Marcona, Nazca province, and began generating power on April 25th, 2014.