LatinFinance - September/October 2017 - 6
#Loans
ACQUISITION FINANCE,
RENEWABLE ENERGY DEALS
BUOY LOANS MARKET
Toni Baini
Reporter
Facilities to finance large M&A deals
and green power projects sustained the
loans market in July and August.
Ternium's Argentine business, for
example, needed funds to buy a
Brazilian steel plant from
Thyssenkrupp and secured a five-year
loan for $1.15 billion from 14 banks, led
by Citi, HSBC, Intesa Sanpaolo,
JPMorgan, MUFG and Natixis.
Grupo México, in another cross-border
acquisition, got roughly $1.8 billion in
loans to pay for the purchase of Florida
East Coast Railway. Two banks - BBVA
Bancomer and Credit Suisse - provided
a bridge loan for $1.55 billion, while
Santander added another $250 million.
Renewable energy deals also dominated
the loans market. In Mexico, Zuma
netted a 20-year, $440-million loan to
develop a 424 MW wind farm in the
state of Tamaulipas. Bancomext, Nafin,
and Banobras contributed $330
million, and Santander came in with
$110 million, backed by the Danish
export credit agency EKF.
Cubico Sustainable Investments
financed renewable energy projects in
Mexico, including 250 MW in wind
power and 290 MW in solar.
Bancomext, Banobras and the North
6 L AT I N F I N A N C E . C O M - September/October 2017
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ATINFINANCE.COM
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September/October 2017
2017
American Development Bank (NDB)
shared 20-year tickets on a $223-million
facility for a wind farm in Nuevo León,
while a herd of development banks and
multilateral lenders, including the IFC,
the IIC, Banobras and Bancomext,
helped finance two solar farms in
Aguascalientes. Japan's MUFG
committed $25 million in long-term
lending for the solar farms.
"There is a high risk for spot market exposure,
and we're seeing that not many commercial
banks are getting involved"
A banker on the challenges for financing
renewable energy projects in Mexico
Also in Mexico, cement company Cemex
turned to the loan market for debt
refinancing. Some 20 banks
participated in a multi-currency
package worth $4.05 billion, split
between a five-year term loan for $2.92
billion and a five-year revolver for $1.14
billion.
http://www.LATINFINANCE.COM
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Table of Contents for the Digital Edition of LatinFinance - September/October 2017
Contents
LatinFinance - September/October 2017 - Cover1
LatinFinance - September/October 2017 - Cover2
LatinFinance - September/October 2017 - Contents
LatinFinance - September/October 2017 - 2
LatinFinance - September/October 2017 - 3
LatinFinance - September/October 2017 - 4
LatinFinance - September/October 2017 - 5
LatinFinance - September/October 2017 - 6
LatinFinance - September/October 2017 - 7
LatinFinance - September/October 2017 - 8
LatinFinance - September/October 2017 - 9
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LatinFinance - September/October 2017 - 11
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LatinFinance - September/October 2017 - 16
LatinFinance - September/October 2017 - 17
LatinFinance - September/October 2017 - 18
LatinFinance - September/October 2017 - 19
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LatinFinance - September/October 2017 - Cover3
LatinFinance - September/October 2017 - Cover4
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