Asian Banks' $1B Loan Kickstarts Chilean Coal Project

Law360, New York (March 28, 2013, 3:06 PM EDT) -- Chile's AES Gener SA will start construction next month on a coal-fired power project it jointly owns with Mitsubishi Corp. after securing a $1.05 billion loan from a consortium led by Japanese and South Korean banks, AES said Thursday.

The deal secures the capital needed by Empresa Electrica Cochrane SpA, the AES and Mitsubishi venture, to build the $1.35 billion coal-fired thermoelectric project known as Cochrane. The loan financing was led by Japan Bank for International Cooperation and a syndicate of Japanese and U.S. commercial lenders,...
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