Energy and Infrastructure Projects transactions


We represented Gramercy Management Group, in a USD$45 million credit facility to Emerging America Inmobiliaria (EMAI), a 110.9MW gas-fired generation plant, and Emerging America Financiera (EMAF), both affiliates of EMPower. The use of proceeds is the refinancing of EMAI's current project financing and EMAF's acquisition of 73% of EMAI's capital stock.

CLIENT:

Gramercy

PRACTICE AREA:

Banking and Finance

Energy and Infrastructure Projects

CLOSING DATE:

April 2024

VALUE:

USD$45 million


We represented MNJ Capital, in a secured credit facility of up to USD$500 million, to fund a portion of MNJ Capital’s structured on-lending program for entities in the energy businesses in Mexico.

CLIENT:

MNJ Capital

PRACTICE AREA:

Banking and Finance

Energy and Infrastructure Projects

CLOSING DATE:

March 2024

VALUE:

USD$500 million

PROFESSIONALS:

Marcelle Cohen Shehoah

OTHER FIRMS:

Milbank - NY advisor to Enerlending Mayer Brown NY and Mayer Brown Mexico - NY and Mexico advisors to Nomura Greenberg Traurig - Mexico advisors to Gramercy Gibson Dunn - NY advisors to Gramercy


We represented a special purpose acquisition trust managed by Mexico Infrastructure Partners, in the acquisition and secured financing to fund the USD$6.2 billion acquisition of 12 combined-cycle power generation facilities and 1 wind power generation facility with a total installed capacity of 8.5 GW, which were part of the generation portfolio of Iberdrola in Mexico. Also represented Mexico Infrastructure Partners in the structuring and establishment of the acquisition trust and corresponding equity vehicle through a public offer of Series A-1 and Series A-2 certificados bursátiles fiduciarios de desarrollo (CKDs) that were subscribed and paid by the Mexican National Infrastructure Fund (Fondo Nacional de Infraestructura).

CLIENT:

Mexico Infrastructure Partners

PRACTICE AREA:

Energy and Infrastructure Projects

Mergers and Acquisitions

Capital Markets

CLOSING DATE:

February 2024

VALUE:

USD$6,200 million

OTHER FIRMS:

Greenberg Traurig México, Co-Counsel to MIP Cleary Gottlieb Steen & Hamilton LLP, Co-Counsel to MIP White & Case, Counsel to Banobras and FONADIN Milbank, Counsel to Barclays, BBVA Mexico, Santander Mexico, NAFIN and Bancomext Galicia Abogados, Counsel to Barclays, BBVA Mexico, Santander Mexico, NAFIN and Bancomext Mijares, Angoitia, Cortés y Fuentes, Counsel to Citibanamex Holland & Knight, Counsel to UMB Bank


We represented Concesionaria AT-AT, in the restructuring of its senior secured loan granted by Banco Santander, Banco Inbursa and Banobras in September 2017, to increase the maximum principal amount from MXN$5,310 million to MXN$7,200 million for the continuity of the development and construction of the highway known as "Atizapán-Atlacomulco", and in a MXN$2,214 million secured VAT loan to finance the VAT associated with the costs of such highway. 

CLIENT:

Concesionaria AT-AT

PRACTICE AREA:

Energy and Infrastructure Projects

CLOSING DATE:

February 2024

VALUE:

MXN$7,200 million

OTHER FIRMS:

Nader, Hayaux y Goebel, como asesores legales externos de los acreditantes


We represented the lenders, including Sumitomo Mitsui Banking Corporation as lead arranger and lender, in a USD$235 million syndicated loan to MIP Cinco Gas, for the refinancing of the Morelos Gas Pipeline

CLIENT:

Sumitomo Mitsui Banking Corporation (SMBC)

PRACTICE AREA:

Energy and Infrastructure Projects

CLOSING DATE:

December 2023

VALUE:

USD$235 million


We represented The Bank of Nova Scotia, as administrative and collateral agent, and The Bank of Nova Scotia, Scotiabank Inverlat, Sumitomo Mitsui Banking Corporation, MUFG Bank and Mizuho Bank, as senior lenders to a subsidiary of Brookfield, in a USD$280 million increase of a credit facility originally granted for the acquisition of one third participation in the Los Ramones natural gas pipelines.

CLIENT:

The Bank of Nova Scotia, Scotiabank Inverlat, Sumitomo Mitsui Banking Corporation, MUFG Bank and Mizuho Bank.

PRACTICE AREA:

Banking and Finance

Energy and Infrastructure Projects

CLOSING DATE:

November 2023

VALUE:

USD$280 Million

LEADER (S):

Jorge Oria y Anaya

OTHER FIRMS:

Mijares, Angoitia, Cortés y Fuentes - Mexican Counsel to the borrower. Skadden LLP - NY Counsel to the borrower. Milbank, LLP - NY Counsel to the collateral agent and the senior lenders.


We represented Credit Agricole CIB and a syndicate of banks, in a USD$440 million financing to Terminal Química Puerto México, a subsidiary of Braskem Idesa, for the development, construction, operation and maintenance of an ethane storage and transportation system in Coatzacoalcos, Veracruz, Mexico.

CLIENT:

Credit Agricole CIB

PRACTICE AREA:

Energy and Infrastructure Projects

CLOSING DATE:

October 2023

VALUE:

USD$440 million

OTHER FIRMS:

White&Case as New York and Mexican counsel to the borrower. Milbank LLP as New York counsel to the lenders.


We represented Ainda, in the acquisition by its infrastructure and energy fund of an additional 4.4% interest in the offshore block 1.2, contract area 2, owned by Hokchi Energy, which resulted in a total participation of 8% in such offshore block.

CLIENT:

Ainda, Energía & Infraestructura

PRACTICE AREA:

Energy and Infrastructure Projects

Mergers and Acquisitions

CLOSING DATE:

August 2023

VALUE:

ND

OTHER FIRMS:

Mijares Angoitia Cortés y Fuente, S.C. - Counsel to Hokchi (Seller).


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