Milbank LLP advised Allianz Global Investors U.S. LLC (acting on behalf of its clients) and a commercial bank group as lenders and institutional investors in connection with the approximately $815 million bank and bond re-financing of a 420 kilometer natural gas transportation pipeline owned by leading Mexico infrastructure builder and operator Fermaca Pipeline El Encinco, S. de R.L. de C.V. The pipeline extends between the Mexican states of Chihuahua and Durango.
The Milbank team advised Allianz Global Investors U.S. LLC in its role as investment manager in connection with a note refinancing on behalf of its clients valued at approximately $450 million. The commercial bank group of lenders involved in the approximately $360 million included lead lender NordLB, as well as BNP Paribas, ING, Sabadell and Mizuho.
The Milbank team was led by Project, Energy and Infrastructure Finance partners Dan Bartfeld and Jaime Ramirez, along with associates Genevieve Fox, Eusebius Luk and Rocio Portela-Berrios. Capital Markets special counsel Sam Badawi also assisted on the transaction.
Mr. Bartfeld said: “We are extremely pleased to once again work with Fermaca and its lenders on the La Laguna Pipeline Project. The energy infrastructure market in Mexico is extremely active, and we look forward to working together with these lenders on several other upcoming major financings there.”
