LatinFinance recognized the work of Milbank, Tweed, Hadley & McCloy LLP in four categories at the “2018 Deals of the Year Awards” on January 31 at Gotham Hall in New York City. The firm was acknowledged for its role in the Financing Innovation of the Year, Corporate High-Yield Bond of the Year, Corporate High-Grade Bond of the Year and Structured Financing of the Year.
The Awards recognize the best in Latin American finance and investment from October 2017 through September 2018. LatinFinance editors select the winners based on transaction size, complexity, innovative elements, market significance and execution. Milbank’s work was recognized in the following transactions:
- Financing Innovation of the Year: CELSE | (Close date: April 2018)
Milbank advised Centrais Elétricas de Sergipe on the largest cross-border energy related transaction in Brazil in recent years and the largest LNG-to-Power deal completed to date in Latin America. The project financed the Porto de Sergipe I Thermoelectric Complex, comprising of a gas-fired combined cycle power plant with a total installed capacity of 1.5GW, a 33-km transmission line, an offshore terminal where a chartered Floating Storage and Regasification Unit will be moored, and a subsea and underground gas pipeline to transport the regasified LNG from the offshore terminal to the plant.
- Corporate High-Yield Bond of the Year: Tecpetrol (Deal Size: US$500M | Close Date: December 2017)
Milbank advised BBVA Securities Inc., Citigroup Global Markets Inc., J. P. Morgan Securities LLC, Santander Investment Securities Inc. as initial purchasers in Argentina oil company Tecpetrol S. A.’s finalized offering of US$500 million 4.875% notes due 2022.
- Corporate High-Grade Bond of the Year: Peru LNG (Deal Size: US$940M | Close Date: March 2018)
Continuing the firm’s extensive work in Peru, Milbank advised the initial purchasers in connection with the US$940 million 144A/Reg S offering of 5.375% senior notes due 2030 by PERU LNG S.R.L.
- Structured Financing of the Year: EVM II | (Close Date: September 2018)
To fund an 850 MW greenfield combined cycle natural gas-fired power plant, Milbank represented more than a dozen institutional investors and a syndicate of commercial bank lenders in connection with a hybrid 4(a)(2) private placement, term loan and letter of credit facility. The project is part of a broader modernization plan instituted by Comisión Federal de Electricidad, Mexico’s state utility, to meet Mexico’s growing energy needs in the critical Mexico City and Guadalajara regions. The financing supports the development of EVM II by a joint venture between EVM Tenedora, S.A.P.I. de C.V. and EFS Global Energy B.V., a subsidiary of General Electric Company.
Dan Bartfeld, head of the Milbank’s Global Project, Energy and Infrastructure Finance Group, said: “We are honored to be recognized by LatinFinance once again for our work in Latin America. Our project, energy and infrastructure finance work this year proves that Milbank is vigorously expanding our expertise in Latin America and continuing to pioneer the most significant projects in the region.”
Marcelo Mottesi, head of Milbank’s Global Capital Markets Group, added: “2018 marked another year of expansion in our capital markets, finance and M&A capabilities in Latin America. We always strive to match the needs of the market and our clients, and we are optimistic that we will continue on this growth trajectory in the coming year.”
Milbank is consistently recognized as a leading law firm in Latin America. In 2018, Milbank was named “International Counsel in Latin America – Project Finance” by Chambers Latin America, “Best Infrastructure Law Firm in Latin America” for the third year in a row by LatinFinance and “Latin America Legal Adviser of the Year” by IJGlobal.
