IENova Enters into $1 Billion Letter of Credit Facility
February 12, 2018
New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Infraestructura Energética Nova, S.A.B. de C.V., a subsidiary of Sempra Energy, in connection with a $1 billion multicurrency letter of credit facility. The letter of credit facility was entered into with Banco Nacional de México, Integrante Grupo Financiero Banamex, Sumitomo Mitsui Banking Corporation, BBVA Bancomer, Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, Scotiabank Inverlat, S.A., Mizuho Bank, BNP Paribas, Banco Santander.
The facility allows IENova to request letters of credit denominated in US dollars or Mexican Pesos, subject to certain sub-limits, which may be used to provide credit support for the development, design, procurement, construction, installation, operation, performance and maintenance of various projects outside of the United States.
IEnova develops, builds and operates energy infrastructure in Mexico.
Latin America and Energy and Infrastructure partner Robert Kartheiser led the Paul Hastings team, which also included of counsel Holly Snow, associate Maria Leonor Tobia and foreign associate Bruna Rey.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.