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Thursday, February 22, 2024

Baker advises Natixis and BBVA on US$146m green loan for Ferrovial

A Baker McKenzie cross-border team has advised Natixis New York and BBVA New York on an approximately US$146 million credit agreement to finance power transmission line projects in Chile by a subsidiary of Ferrovial

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Baker McKenzie advised Natixis New York Branch (as Coordinating Mandated Lead Arranger, Structuring Bank, Administrative Agent and the Green Loan Coordinator) and Banco Bilbao Vizcaya Argentaria S.A. New York Branch (as Mandated Lead Arranger) on an approximately US$146 million credit agreement to finance the development, construction, ownership and operation of the Centella and Tap Mauro power transmission line projects in Chile by Centella Transmisión, S.A., a subsidiary of Ferrovial S.A.

The credit facility is intended to be categorised as a green loan in accordance with the green loan principles.  The Centella project consists of a transmission line of approximately 250 km long that will connect the Nueva Pan de Azúcar, Punta Sierra and Nueva los Pelambres substations. The Tap Mauro project consists of a transmission line connecting the Los Piuquenes-Tap Mauro transmission line with the Centella power substation.

“It has been a pleasure and an honor to represent leading financial institutions like Natixis and BBVA with the financing of key electricity transmission projects in Chile, and to showcase our Firm’s ability to operate and serve clients as a single team on a cross border basis in New York law governed financings of projects in Chile.”

Juan Gonzalez, partner in the Chicago office of Baker McKenzie

Natixis, New York Branch and Banco Bilbao Vizcaya Argentaria, S.A. New York Branch were advised by a cross-border Baker McKenzie team led by José Antonio Morán, Baker McKenzie Energy, Mining and Infrastructure practice global head, along with Madrid office partner and head of the Public Law, Infrastructure and Energy department Antonio Morales, Chicago office partner Juan González, and Santiago de Chile partner Sebastián Vivanco.

“We are very proud to have been trusted by Natixis and BBVA to advise them on this strategic project financing. We are delighted to have been able to provide our clients with cross-border advice and a team that understands all the cultural factors and the political and economic challenges of this type of transaction, something in which we are leaders as a law firm.”

Antonio Morales, partner in the Madrid office of Baker McKenzie
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