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NEWS BITES - PRIVATE COMPANIES
Shearman & Sterling advised J.P. Morgan Securities, Mizuho Securities USA and Scotia Capital (USA), as initial purchasers in connection with a Rule 144A/Reg S offering of $350 million 4.900 percent senior secured notes due 2026 by Electricidad Firme de Mexico Holdings, holding company of Saavi Energia, the fourth largest private power company by generation in Mexico. The notes were issued on September 20, 2021 and are guaranteed on a senior secured basis by Electricidad Cometa de Mexico, a company that through direct and indirect subsidiaries develops, owns and operates Saavi Energia.
Part of the net proceeds of the offering of the notes were used to (i) repay a $275.5 million bridge facility provided to the Issuer by JPMorgan Chase Bank, Mizuho Bank, and The Bank of Nova Scotia as joint lead arrangers that was used by the issuer to repay a loan granted to it by GIP Spectrum Saavi Luxco, and (ii) partially pay for transaction costs associated with the notes offering. The remaining proceeds are expected to be used for general corporate purposes, including to make distributions to GIM EM Bronco Luxco, the sponsor of the issuer. Shearman & Sterling also advised the joint lead arrangers in connection with the bridge facility, which closed on August 19, 2021.
As a result of a recent acquisition, the issuer became an indirect wholly owned subsidiary of certain investment funds advised and managed by Global Infrastructure Partners, one of the world's largest independent infrastructure managers that invests worldwide in infrastructure assets in both OECD and select emerging market countries.
The Shearman & Sterling team below included visiting attorneys Elias Zaga Belzer and Sebastian de la Puente (New York - Capital Markets) and Pedro Llado (New York - Project Development & Finance).
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SECTION 1 SHEARMAN & STERLING LLP FINANCIALS
SECTION 2 SHEARMAN & STERLING LLP PROFILE
SECTION 3 PRESS RELEASES: 2021
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SECTION 1 SHEARMAN & STERLING LLP FINANCIALS
Shearman & Sterling LLP
Key Stats
Estimated Revenue (TTM): $752 Million
Estimated Employees: 850
SECTION 2 SHEARMAN & STERLING LLP PROFILE
2.1 ACTIVITIES
Shearman & Sterling LLP provides legal advisory services. The firm focuses on antitrust, asset...