López Velarde Heftye y Soria is known as an innovator in project finance deal structuring and has strong regulatory expertise. The firm represents both lenders and sponsors, public utilities and government entities....
[more]
López Velarde Heftye y Soria is known as an innovator in project finance deal structuring and has strong regulatory expertise. The firm represents both lenders and sponsors, public utilities and government entities.
In a $730 million deal that closed in December 2010, the firm advised the sponsors, Mitsui and Tokyo Gas, indirectly through the borrower, MT Falcon Holdings, and each independent power producer (IPP) as co-borrowers, on the acquisition financing for the purchase of five power plants from Gas Natural-Fenosa. The IPP model was first implemented in 1997 and as of 2010 was responsible for more than $25 billion of domestic investment in the country.
In March 2011, the firm advised the Korean export-import bank K-Exim, Japan's Sumitomo Mitsui Banking Corp (SMBC) and the French bank, Credit Agricole, on a $325 million project financing for a 430MW thermoelectric Norte II IPP plant. It was the first IPP deal that involved both Korean developers and lenders.
[hide]