Patria-sponsored Aconcagua water assets get $883 million debt financing

By Marisa Wong

Los Angeles, Jan. 24 – Natixis CIB has closed two senior secured financings totaling $883 million for two adjacent water assets owned by portfolio companies of Patria Investments, according to a press release.

The financed assets comprise the 1,000-l/s Aconcagua desalination plant and the 109-kilometer San Isidro Quilapilun water pipeline in the Valparaiso and Metropolitana regions of Chile. Those two assets make up part of Aguas Pacifico’s Aconcagua Project. Aguas Pacifico is a portfolio company of Patria.

Natixis acted alongside three international banks as joint lead arranger, joint bookrunner, joint syndication agent, hedge provider and co-green loan coordinator.

“The transactions support the development, construction, operation and maintenance of the desalination plant and pipeline for the transportation of treated and/or desalinated water. The project is the first multiclient desalination plant in the region and will contribute to reduce usage of continental water by its industrial clients, mitigating the water scarcity situation in Chile due to climate change. This transaction is firmly aligned with Natixis CIB’s green and sustainability targets and reinforces Natixis CIB’s regional and sector expertise and leadership,” Natixis explained.

Jose Mestres, partner for Patria Investments Infrastructure Group, added, “The seven-year term allows Aguas Pacifico to navigate the current volatility in the debt markets and secure project financing at competitive pricing.”

Patria is a Cayman Islands-based alternative investment firm focused on Latin America.

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