Client or Matter Name
Citibank, N.A. and UMB Bank, N.A. – two leading American banking and financial services institutions.
Deal Description
Legal counsel to Citibank, N.A., as, among others, administrative agent, and UMB Bank, National Association, as security trustee - two leading American banking and financial services institutions.- in the USD$185 million refinancing to APR Energy - a worldwide leader in energy solutions.
Innovation & Additional Comments
The transaction involved, among others, the implementation of a collateral package regarding the Mexican assets of APR and certain of its affiliates, through the negotiation and execution of pledge agreements over assets and equity
It was also necessary for APR’s Mexican subsidiary to accede to the foreign documents governed by UK and US law.
Finally, the deal was particularly challenging given that it involved three separate jurisdictions (Mexico, United States and United Kingdom). As such, the structure was negotiated at-length and required to conform different concepts from foreign law into a Mexican-law governed transaction.
Jurisdiction
- Mexico, United States of America, and United Kingdom.
Governing Law
- Mexican federal law, laws of the United States of America, and laws of the United Kingdom.
Deal Value
- USD$185,000,000.00 (One Hundred Eighty-Five Million Dollars).
Deal Duration, Date of Closing / Signing
- Closing: September 23, 2022
Practice Area
- Corporate Finance
Team GC
- Lead Partner: José Ignacio Rivero Andere
- Managing Associate: Jacinto Ávalos Capin
- Associate: Luis Ernesto Brieño Jimenez
- Law clerk: Valeria Camacho Bello, Héctor Ferrari Ruiz
Other Firms Involved
- Milbank (London) as counsel to Citibank, N.A. and UMB Bank, N.A.
- Gibson Dunn (US), as counsel to APR Energy LLC.
- Santistevan & Duclaud, S.C., as Mexican counsel to APR Energy.
