$160 million refinancing of CYDSA’s Underground Hydrocarbon Storage Business

Rodríguez Dávalos Abogados and White & Case advised on the deal

This syndicated loan was granted jointly by Banobras, the National Bank of Foreign Trade (Bancomext) and Banorte, and will serve to continue with the realization of the first system in Mexico and Latin America to provide underground gas storage services to Pemex during a period of 20 years.

CYDSA, S.AB. de C.V., based in Monterrey, Nuevo León, is a company listed in the Mexican Stock Exchange (BMV) and specializes in three areas of operation: (i) chemical products and specialties, (ii) electric power cogeneration and (iii) underground storage of hydrocarbons. This company produces salt for domestic consumption and industrial applications; chlorine, caustic soda and refrigerant gases, and its products are exported to more than 15 countries around the world. In addition, it generates electricity through generation plants, and processes and stores LP gas in saline caverns. It has more than 20 subsidiaries in 9 locations in Mexico.

Rodríguez Dávalos Abogados (RDA) advised Banobras with a team including Alonso Gómez del Campo (Picture) and Anaid López (Senior Associate), advised the National Public Works and Services Bank (BANOBRAS).

Involved fees earner: Alonso Gómez del Campo Estrada – Rodríguez Dávalos Abogados; Anaid López – Rodríguez Dávalos Abogados;

Law Firms: Rodríguez Dávalos Abogados;

Clients: Banco Nacional de Obras y Servicios Públicos (Banobras);

Author: Ambrogio Visconti.