Paul Hastings Represents Lenders on Iberdrola México, S.A. de C.V. $400 Million Senior Unsecured Green Term Loan Agreement

New York – Paul Hastings LLP, a leading global law firm, represented BBVA, as Administrative Agent, BBVA Bancomer, as Global Coordinator and Green Agent and the lenders in connection with the amendment, restatement and extension of a $400 million Senior Unsecured Green Term Loan Agreement entered into by Iberdrola México, S.A. de C.V., a subsidiary of the Spanish energy group. The original credit facility, entered into in 2018, was the first green corporate loan in Latin America, whose proceeds were used by Iberdrola to finance wind farms and other socially responsible projects in Mexico. The amendment and restatement is primarily for the purpose of implementing the transition to Term SOFR to replace the LIBOR-based interest rate and extending the loan maturity.

Latin America practice partners Mike Fitzgerald and Joy Gallup led the Paul Hastings team, which also included Of Counsel Pedro Reyes and associate Rigo Chavez.