Iberdrola Power Portfolio Acquisition Financing, awarded as Infrastructure Financing of the Year and Power Financing of the Year by LatinFinance

Galicia Abogados acted as special Mexican legal counsel to a syndicate of commercial banks (Santander Mexico, MMBA Mexico, SMBC and Barclays) and two development banks (Nacional Financiera and Banco Nacional de Comercio Exterior) in the US$6,200’000,000 aggregate financing to a special purpose trust, administered by Mexico Infrastructure Partners (MIP), which was created specifically for the acquisition of several project companies and associated service entities previously owned by Iberdrola Group in Mexico.

The transaction was the winner of the Infrastructure Financing of the Year: Latin America and the Power Financing of the Year awards, granted by Latin Finance at its Projects and Infrastructure IFA Awards 2024. These awards aim to celebrate the excellence, innovation and dedication demonstrated by industry players, driving the development and advancement of vital projects throughout Latin America. The winners were announced at the awards dinner held in New York on October 10, 2024.

Milbank and Galicia Abogados advised Banco Santander Mexico, MMBA Mexico, SMBC, Barclays, Nacional Financiera and Banco Nacional de Comercio Exterior.

Galicia’s participation in the transaction encompassed a broad range of legal services from the firm’s energy, corporate, tax, antitrust, banking and finance, capital markets, labor, environmental, litigation (administrative and commercial) and arbitration groups, demonstrating the firm’s expertise and commitment to ensuring the success of such a high-profile transaction.

Cleary Gottlieb Steen & Hamilton and Ritch Mueller advised Mexico Infrastructure Partners (MIP) and Fideicomiso de Inversión en Energía México (FIEMEX).

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