IENova’s $1 Billion Credit Facility

Paul Hastings LLP represented Infraestructura Energética Nova, S.A.B. de C.V., a subsidiary of Sempra Energy, in connection with a $1 billion multicurrency letter of credit facility.

The letter of credit facility was entered into with Banco Nacional de México, Integrante Grupo Financiero Banamex, Sumitomo Mitsui Banking Corporation, BBVA Bancomer, Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, Scotiabank Inverlat, S.A., Mizuho Bank, BNP Paribas, Banco Santander.

The facility allows IENova to request letters of credit denominated in US dollars or Mexican Pesos, subject to certain sub-limits, which may be used to provide credit support for the development, design, procurement, construction, installation, operation, performance and maintenance of various projects outside of the United States.

Infraestructura Energética Nova, S.A.B. de C.V. develops, builds, and operates energy infrastructure projects in Mexico. The company, led by Carlos Ruiz Sacristán, Manuela Molina Peralta, Carlos Barajas Sandoval, Debra L. Reed and Jesús Córdoba Domínguez, is based in Mexico City.

Latin America and Energy and Infrastructure partner Robert Kartheiser (Picture) led the Paul Hastings team, which also included of counsel Holly Snow, associate Maria Leonor Tobia and foreign associate Bruna Rey.

 

Involved fees earner: Bob Kartheiser – Paul Hastings; Holly Snow – Paul Hastings; Maria Leonor Tobia – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Infraestructura Energética Nova, S.A.B. de C.V.;