Projects & Infrastructure

• EPM – Strategic Sale. Empresas Públicas de Medellín on the strategic sale of its Mexican wastewater platform (TICSA) to Odinsa Aguas, the new water infrastructure investment arm of Grupo Argos/Odinsa. The transaction supports Odinsa’s expansion into water treatment, reuse and desalination.
• Energía Mayakan (Engie) – Gas Pipeline Project Finance. Mexican counsel to a syndicate of lenders in the USD 2.5 billion NY law-governed project financing for the Mayakan natural gas pipeline expansion, including the VAT facility for the construction stage of the project and the restructuring of trust accounts and cash waterfall.
• OOMSAPAS – Desalination Plant & Water Management System (MIG). The Water Operator Agency of Los Cabos on (i) the 25-year municipal PPP project for a 250 l/s desalination plant, including a source of payment and security structure backed by local and federal revenues, and (ii) the MIG integrated water management system, a 10-year PPP with Aqualia to modernize, operate and enhance the efficiency and reliability of the potable water network in Cabo San Lucas.
• FIBRAeMX – Toll Road Strategic Acquisition. FIBRAeMX on the MXN 5.2 billion acquisition of an equity interest in a toll road concession from Aleatica and Invex, involving a mixed consideration structure (cash and CBFEs).
• IFC – Indirect Potable Reuse Project. International Finance Corporation on the structuring and potential USD 850 million financing of Mexico’s first indirect potable reuse water project.
• CAF – Tren Suburbano. Construcciones y Auxiliar de Ferrocarriles (CAF) and its subsidiary Ferrocarriles Suburbanos on the restructuring and refinancing of Mexico’s main commuter railway concession, involving the refinancing of senior and subordinated debt facilities by a syndicate of lenders led by Banobras and backed by Fonadin.
• Murano – Bajamar. Grupo Murano in connection with the structuring of the concession arrangement for a tourism-anchored port and cruise terminal project, including related hospitality, retail and industrial components.
• C&B – Hospital PPP (Peru). Currie & Brown in connection with the consortium and JV structuring for the PPP of the National Children’s Hospital San Borja in Peru.
• Securitization of PPP Coatzacoalcos-Villahermosa. APP Coatzacoalcos-Villahermosa, as transaction counsel on the MXN 1.95 billion securitization of collection rights arising from the long-term federal PPP project for the rehabilitation, conservation and maintenance of the Coatzacoalcos–Villahermosa highway.
• Rumichaca-Pasto 4G Toll Road (Colombia). Before rejoining Nader, in prior international practice, advised a syndicate of financial institutions (including Goldman Sachs, J.P. Morgan, MUFG, SMBC, SocGen and CACIB) on the USD 906 million multi-source financing of the Rumichaca-Pasto 4G toll road concession in Colombia. The transaction included the first project-level letter-of-credit facility used to collateralize reserve accounts in Colombia, constituted the largest 4G financing, and marked IDB Group’s first investment in a COP-denominated project bond.
• Río Magdalena 2 4G Toll Road (Colombia). Before rejoining Nader, in prior international practice, advised Goldman Sachs and Santander on the USD 746 million hybrid loan/bond financing for the Río Magdalena 2 4G toll road concession in Colombia. The transaction was the first 4G project to implement a multi-EPC structure, and the financing was the first of its kind to combine UVR-indexed notes, USD-denominated loans, COP-denominated loans, and comprehensive interest rate and currency hedging.
• Avenida Costanera Sur (Paraguay). Before rejoining Nader, in prior international practice, advised Itaú, KfW IPEX-Bank and MetLife on the second-ever international securitization of government receivables for a Paraguayan public works project, involving a USD 128 million sale and purchase facility to acquire government receivables from the project SPV, and a USD 130 million Rule 4(a)(2) private placement to fund the acquisition of such receivables.

Real Estate

• Grand Island Bond Offering. Grupo Murano on the refinancing of its Grand Island Cancún hospitality project through the issuance of its USD 300 million 11.000% senior secured notes due 2031, offered pursuant to Rule 144A/Reg S under U.S. securities laws.
• Advance – Sale of LUMA Portfolio. Advance Real Estate, through several subsidiaries, on the sale of its industrial real estate portfolio to Thor Urbana, comprising more than a dozen industrial properties and land reserves located across Mexico.
• Four Seasons Resort Los Cabos at Costa Palmas. The syndicate of lenders (including Sabadell, SabCapital and Santander) on the USD 138 million senior secured credit facility to a trust vehicle controlled by Irongate for the construction and development of the Four Seasons Resort Los Cabos at Costa Palmas, a premier luxury residential and resort project in Baja California Sur.
• St. Regis Hotel and Residences Cancún. The syndicate of lenders (including Sabadell, Santander, Bancomext and Avantta) on the USD 135 million senior secured credit facility for Riviera Isla Maya, S.A. de C.V., to finance the construction and development of the St. Regis Hotel and Residences in Cancún (Costa Mujeres), a flagship luxury hospitality and residential project of AB Living Group.
• Reddy Ice – Acquisition of Aguafría. Reddy Ice, LLC, a leading U.S. ice manufacturer and distributor, on its acquisition of 100% of the capital stock of Fábrica de Hielo Apodaca (Aguafría), the largest ice manufacturer in Mexico.
• Hyde Reforma Mexico City. BEA Equities and Corporativo Kosmos on the structuring and negotiation of the hotel management agreement and related financing for the development and operation of the Hyde Reforma Mexico City hotel.
• Andaz & Mondrian Mexico City Condesa. Grupo Murano on the structuring and negotiation of the hotel management agreements with Hyatt and Ennismore/Accor for the Andaz Mexico City Condesa and Mondrian Mexico City Condesa hotels, as well as on the financing for the construction and operation of both hospitality assets.
• IRG – Credit Facility for Industrial Portfolio. The syndicate of lenders led by Scotiabank on the USD 85 million multiple-draw senior secured credit facility to a trust vehicle controlled by Industrial Realty Group, LLC, for the acquisition of several industrial real estate portfolios comprising multiple assets across Mexico.
• SURA – Credit Facility for Industrial Assets. Scotiabank Inverlat, as lender, on the USD 50 million senior secured credit facility to a trust vehicle controlled by SURA Investment Management for the acquisition of industrial facilities located in the Asia Pacific Industrial Park in Nuevo León.
• Dreams Grand Island Cancún. Grupo Murano on the USD 70.3 million secured credit facility provided by Nacional Financiera to fund the completion and commencement of operations of the Dreams hotel within the Grand Island Cancún resort complex, a 1,016-room all-inclusive development that also includes the Vivid hotel and related amenities.