Shearman And Sterling

News March 15, 2017

Shearman & Sterling Advises on Samalayuca-Sásabe Pipeline Financing

Shearman & Sterling advised Carso Gasoducto Norte, S.A. de C.V. as borrower, and affiliates Grupo Carso, S.A.B. de C.V. Carso Electric, S.A. de C.V. and Promotora del Desarrollo de América Latina, S.A. de C.V. in connection with an 18-year nonrecourse $535 million project financing for the development of an approximately 630 km natural gas pipeline running from Samalayuca, Chihuahua, to Sásabe, Sonora, in Mexico with an approximate transportation capacity of 472 million cubic feet per day. The lenders to the long-term credit agreement are The Bank of Tokyo-Mitsubishi UFJ, LTD. BBVA Bancomer, S.A. Institución de Banca Múltiple Grupo Financiero, BBVA Bancomer, Caixabank SA, Mizuho Bank, LTD. and Sumitomo Mitsui Banking Corporation.

The Shearman & Sterling team included partners Gregory Tan (New York-Project Development & Finance) and Azam Aziz (New York-Investment Funds); associates Augusto Ruiloba, Alyssa Cowley (both New York-Project Development & Finance), Ashiq Aziz (New York-Corporate) and Christian Pugaczewski (New York-Investment Funds); and visiting attorneys Lili Abascal and Ana Maria Alpizar (both New York-Project Development & Finance).