Mergers & Acquisitions
Bertha Argüello
bertha.arguello@ariaslaw.com
Rodrigo Ibarra
rodrigo.ibarra@ariaslaw.com
Ana Teresa Rizo
ana.rizo@ariaslaw.com
Grupo Bimbo sold its confectionery division, Ricolino, to Mondelez for US$1,300,000.000.00. Arias represented Grupo Bimbo in securing approval for the deal from the local antitrust authority. The firm's support encompassed reviewing local regulatory compliance and negotiating with the local regulators
Banco Santander and Banco Latinoamericano de Comercio Exterior (Bladex) granted a loan of up to $54,375,000.00, in favour of RANSA CORP S.L. to acquire a group of corporations in the logistics business in Latin America. The Arias experts in the region advised in the acquisition financing by H.I.G. Capital of several entities engaged in the logistics business in Latin America
Arias attorneys conducting an innovative and well-structured due diligence on ESG matters across six countries in Latin America. This groundbreaking approach not only highlighted Arias' expertise in coordinating multi-jurisdictional mergers and acquisitions but also played a crucial role in significantly expanding the client´s (a distributor of lubricants and fuels) presence in the region and exemplifying the growth of Central American businesses in international markets.
Banking and Finance
Bertha Argüello
bertha.arguello@ariaslaw.com
Rodrigo Ibarra
rodrigo.ibarra@ariaslaw.com
Ana Teresa Rizo
ana.rizo@ariaslaw.com
Arias assisted to IFC in their role as the lender. They were involved in the discussions, planning, and procedures related to the loan issuance to Monte Rosa mill. The financial package from IFC includes a short-term loan of US$15,000,000, renewable yearly for 4 years, and a long-term loan of US$10,000,000 designated for the mill's working capital and for buying essential machinery and equipment.
Arias acted as Nicaragua counsel to Norfund in the granting of a subordinated loan to BANCO FICOHSA NICARAGUA, S.A. The firm advised Norfund in the negotiation and structuring of the loan for $10,000,000.00, particularly the regulatory implications of capital structure, subordinated loan and requirements to qualify as such under the financial norms applicable in the country.
Arias was local counsel to the International Finance Corporation (IFC) in the negotiation, structure, and formalities for granting two loans to Mote Rosa mill, a subsidiary of the Sugar Unit of Pantaleón Group, dedicated to transforming sugar cane into sugars, honey, alcohols, and electricity. he IFC Loan consists of a short-term access to US$15,000,000.00, renewable annually for a period of 4 years, and a long-term loan of US$10,000,000.00 destined for working capital of the Monte Rosa Mill, as well as to the acquisition of machinery and equipment necessary for the mill´s operation.
Banco Santander and Banco Latinoamericano de Comercio Exterior (Bladex) granted a loan of up to $54,375,000.00, in favour of RANSA CORP S.L. to acquire a group of corporations in the logistics business in Latin America. Arias team of experts in the region advised in the acquisition financing by H.I.G. Capital of several entities engaged in the logistics business in Latin America
Arias adviced in a transaction of cross-border nature, where our client granted an unsecured loan of up to ten million Dollars (US$10,000,000), involving coordination across multiple jurisdictions and compliance with diverse legal systems. The complexity was heightened as the lender was based in Panama, the loan agreement was under Panamanian law, and more than 10 borrowers domiciled in different countries, necessitating a nuanced approach to international finance law.
Arias advised CMI Energía, one of the largest renewable energy businesses in Latin America, focusing on wind, solar and hydro technologies, in a Green Bond Issuance and a Loan facility Agreement secured by shares. The proceeds of the bond will be used to finance green projects in the categories of renewable energy, energy efficiency, green buildings, and clean transportation. CMI Energía anticipates that this bond will help execute its sustainability priorities and support the achievement of the United Nations Sustainable Development Goals. The transaction involved a combination of (i) US$700 million 6.25% Senior Secured Notes due 2029 (the Notes) issued by Investment Energy Resources Limited (IERL), and (ii) a US$300 million loan (the Loan Facility) provided to IERL by a syndicate of Central American banks. Both the Notes and the Loan Facility are guaranteed by operating subsidiaries of IERL (the Guarantors) and are secured by a pledge of CMI's common stock in the Guarantors.
Arias team advised the law firm King & Wood Mallesons, who represented China Communications Construction Company (a Chinese entity with a branch in Nicaragua). The advice focused on a potential financing arrangement for Nicaragua's Ministry of Finance. This financing was intended to cover the design and construction costs of a Photovoltaic power plant located in San Isidro, Matagalpa, which would support the Nicaraguan Water and Sewage Company System's operations.
Financial restructuring
Ana Teresa Rizo
ana.rizo@ariaslaw.com
Arias advised on a Financial restructuring for financing a project for $70,000,000.00 to a leading provider of wireless telecommunications infrastructure in Latin America.
Project finance
Ana Teresa Rizo
ana.rizo@ariaslaw.com
Arias advised the law firm King & Wood Mallesons, who represented China Communications Construction Company (a Chinese entity with a branch in Nicaragua). The advice focused on a potential financing arrangement for Nicaragua's Ministry of Finance. This financing was intended to cover the design and construction costs of a Photovoltaic power plant located in San Isidro, Matagalpa, which would support the Nicaraguan Water and Sewage Company System's operations.
Arias team advised New Fortress Energy, through its local company NFE (Nicaragua Development Partners LLC, Sucursal Nicaragua) during the legal study of pre investment operations and during the execution of the construction project of the first natural gas plant in the country with a capacity of up to 300MW, as well as, in the negotiation of the Power Purchase Agreement with the distributors DISNORTE and DISSUR. Additionally, Arias has locally advised NFE regarding information and regulatory matters related to the issuance of Notes issued by New Fortress Energy in the US to finance its operations and expansions.
Project development
Rodrigo Ibarra
rodrigo.ibarra@ariaslaw.com
Ana Teresa Rizo
ana.rizo@ariaslaw.com
Arias has played a key role in the negotiation of all project contracts, both with the public sector and private companies, and in the processing of all permits, licenses and authorizations related to the generation of energy, maritime and land transport logistics, establishment of a port base for the importation of natural gas, interconnection to the national interconnected system and the regional transmission system, among others, including, the port concession contract, generation license contract, interconnection agreement, construction contracts, supply contracts, and lease contracts, among others. The team also has advised NFE in local regulations related to the issuance of the Notes and securing with the PPA such Notes and Loans Facilities to expand NFE´s operations.
Arias provided comprehensive legal counsel to New Fortress Energy (through its Nicaraguan subsidiary NFE) for the development and operation of Nicaragua's first 300MW gas-based power plant. Their scope encompassed all corporate, regulatory, environmental, port, and infrastructure aspects, including construction of the plant, port facilities, and a gas pipeline, positioning of an offshore FSRU, building a demineralization plant, upgrading substations, negotiating the first marine concession for NFE's port activities, and amending the Power Purchase Agreement with energy distributors. This project marked a significant milestone in Nicaragua's energy sector.
In the past year Arias played a key role in the negotiation of new contracts for the project, both with the public sector and private companies, and in the processing of the required permits, licenses and authorizations related to the generation of energy, maritime logistics, interconnection to regional transmission system, among others.
ESG
Rodrigo Ibarra
rodrigo.ibarra@ariaslaw.com
Arias team of experts attorneys conducted an innovative and well-structured due diligence on ESG matters across six countries in Latin America. This groundbreaking approach not only highlighted Arias' expertise in coordinating multi-jurisdictional mergers and acquisitions but also played a crucial role in significantly expanding the client´s (a distributor of lubricants and fuels) presence in the region and exemplifying the growth of Central American businesses in international markets.
Arias advised CMI Energía, one of the largest renewable energy businesses in Latin America, focusing on wind, solar and hydro technologies, in a Green Bond Issuance and a Loan facility Agreement secured by shares. The proceeds of the bond will be used to finance green projects in the categories of renewable energy, energy efficiency, green buildings, and clean transportation. CMI Energía anticipates that this bond will help execute its sustainability priorities and support the achievement of the United Nations Sustainable Development Goals. The transaction involved a combination of (i) US$700 million 6.25% Senior Secured Notes due 2029 (the Notes) issued by Investment Energy Resources Limited (IERL), and (ii) a US$300 million loan (the Loan Facility) provided to IERL by a syndicate of Central American banks. Both the Notes and the Loan Facility are guaranteed by operating subsidiaries of IERL (the Guarantors) and are secured by a pledge of CMI's common stock in the Guarantors.
Capital Markets
Rodrigo Ibarra
rodrigo.ibarra@ariaslaw.com
Arias advised New Fortress Energy Inc., in the issuing of a private offering of $1,000 million aggregate principal amount of senior secured notes due 2025 (the “Notes”). The Notes will bear interest at 6.750% per annum and will be issued at an issue price equal to 100% of principal, plus accrued intererests
