Energy and Infrastructure Projects transactions


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

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 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).


We represented Ainda, in securing coinvestment commitments, through the issuance of optional certificates and the structuring of a coinvestment vehicle for investors in its energy and infrastructure fund, for the acquisition 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

Capital Markets

CLOSING DATE:

August 2023

VALUE:

ND

OTHER FIRMS:

Creel, García-Cuéllar, Aiza y Enriquez - Co counsel


We represented Sumitomo Mitsui Banking Corporation, ING Capital and The Bank of Nova Scotia, in a financing to Esentia Hub Chávez Holding, to acquire the rights and obligations under certain credit agreements entered into between Roadrunner Gas Transmission, Esentia Pipeline de Occidente, and Esentia Pipeline La Laguna.

CLIENT:

Sumitomo Mitsui Banking Corporation
ING Capital
The Bank of Nova Scotia

PRACTICE AREA:

Energy and Infrastructure Projects

CLOSING DATE:

May 2023

VALUE:

ND

OTHER FIRMS:

Milbank LLP - New York counsel to The Bank of Nova Scotia, Sumitomo Mitsui Banking Corporation and ING Capital LLC Galicia Abogados, S.C. - Mexican counsel to Esentia Hub Chávez Holding, S. de R.L. de C.V. and Esentia Energy Infrastructure B.V. Latham & Watkins LLP - New York counsel to Esentia Hub Chávez Holding, S. de R.L. de C.V. and Esentia Energy Infrastructure B.V.


We represented The Bank of Nova Scotia, as administrative and collateral agent, and The Bank of Nova Scotia, Scotiabank Inverlat, Sumitomo Mitsui Banking Corporation, and MUFG Bank as senior lenders, to a subsidiary of Brookfield, in a credit facility upsizing of around USD$40 million of a credit facility originally granted for the acquisition of one third participation in Los Ramones natural gas pipelines.

CLIENT:

The Bank of Nova Scotia
Scotiabank Inverlat
Sumitomo Mitsui Banking Corporation
MUFG Bank

PRACTICE AREA:

Banking and Finance

Energy and Infrastructure Projects

CLOSING DATE:

November 2022

VALUE:

USD$40 million

OTHER FIRMS:

Mijares, Angoitia, Cortés y Fuentes, S.C. - 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 MUFG Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation, Japan Bank for International Corporation, and MUFG Union Bank, as existing lenders, in connection with the prepayment of the existing facility for the borrower to allow the sale of its five operating electricity generation assets with a total capacity of 2.2GW: (i) Anáhuac (Río Bravo II) of 495MW; (ii) Lomas del Real (Río Bravo III) of 495MW; (iii) Valle Hermoso (Río Bravo IV) of 500MW; (iv) Electricidad Águila Altamira (Altamira II) of 495MW; and (v) Saltillo of 248MW, and an adjacent natural gas pipeline owned by a consortium including Mitsui, Tokyo Gas, JERA and Tohoku Electric Power, by Actis GP, representing USD$6,000 million of investable capital.

CLIENT:

MUFG Bank
Mizuho Bank
Sumitomo Mitsui
Japan Bank
MUFG Union Bank

PRACTICE AREA:

Energy and Infrastructure Projects

CLOSING DATE:

November 2022

VALUE:

USD$6,000 million

OTHER FIRMS:

Mijares, Angoitia, Cortés y Fuentes, S.C. - Mexican Counsel to buyer Clifford Chance - US Counsel to buyer González Calvillo - Mexican Counsel to new lenders Milbank - US Counsel to new lenders Creel, García-Cuellar, Aíza y Enríquez, S.C. - Mexican Counsel to seller Allen & Overy - US Counsel to existing lenders. Clark Hill - US Counsel to the administrative agent and to collateral agent


We represented Citibanamex, Citibank, Scotiabank Inverlat and The Bank of Nova Scotia, in a USD$1,560 million unsecured senior financing to Infraestructura Marina del Golfo (IMG), to provide IMG with funds to repay existing indebtedness.

CLIENT:

Citibanamex
Scotiabank
Citibank
The Bank of Nova Scotia

PRACTICE AREA:

Banking and Finance

Energy and Infrastructure Projects

CLOSING DATE:

July 2022

VALUE:

ND

OTHER FIRMS:

White & Case, as New York counsel to Infraestructura Marina del Golfo White & Case, as Mexican counsel to Infraestructura Marina del Golfo Latham & Watkins, as New York counsel to Citibanamex, as Administrative Agent, and the lenders party to the credit agreement.


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