Chilean Dam Woos Lenders As Bankruptcy Kicks Off

By Leslie Pappas (November 18, 2021, 8:15 PM EST) -- A bankrupt Chilean hydroelectric power project took steps at a first-day bankruptcy hearing Thursday in Delaware to keep its business running as it seeks to bring additional lenders into a prebankruptcy restructuring support agreement, or RSA, backed with $50 million in bankruptcy financing from parent company AES Andes SA, a unit of Virginia-based U.S. power company AES Corp.

Santiago-based Alto Maipo SpA and its Delaware-based foreign representative, Alto Maipo Delaware LLC, filed for Chapter 11 protection Wednesday with more than $2 billion in debt and plans to "right-size" its capital structure after environmental changes made the project less profitable than anticipated...

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