LatinFinance - September/October 2013 - 40

White & Case represented Braskem
and Grupo Idesa on the financing for the
jointly-owned Etileno XXI petrochemicals
plant. The production facility is said to be
the largest petrochemicals plant in Latin
America, and made the shortlist for Best
Infrastructure Financing, Mexico, and for
Best Oil/Gas Financing.
The firm engaged its upstream and
project finance expertise as well as US
Mexican and English law capabilities
to advise on design, construction,
development, permitting, technology,
licensing, operations, equity funding and
project financing.
The first of its kind, the $3.2 billion
Etileno deal was financed by seven
governmental organizations and 10
commercial banks and involved White &
Case teams from Brazil, Mexico, Miami and
New York. LF

BEST INFRASTRUCTURE BANK

HSBC
The global investment bank has had a
prominent position
on numerous leading
infrastructure financings, incorporating
bonds and loans, as well
as local currencies and
dollars
The infrastructure buildout in Latin
America is perhaps not where
governments, investors and companies
would like it to be, but there has been no
shortage of impressive projects in the
region during this year’s awards period.
In addition to project loans, borrowers
have pushed steadily into the bond markets,
in dollars and local currency, to meet
project needs. HSBC has been involved
in several of the region’s most significant
deals during the period, including oil and
gas, petrochemicals, power and utilities,
infrastructure, telecoms, metals and
mining, in countries such as Brazil, Chile,
Mexico, Panama and Peru.

40 LATINFINANCE.COM - September/October 2013

In the bond market, HSBC was a joint
lead for three domestic and international
deals by Mexico’s Red de Carreteras de
Occidente (RCO). An 8.12 billion peso ($624
million) sale in September 2012, split into
15 and 20-year tranches, reopened the
domestic Mexican market for toll road
securitizations after about a year.
The project then tapped the
international market in May 2013, with a 7.5
billion peso ($603 million) sale which was
the first cross-border structured deal of its
kind and which has won three LatinFinance
2013 Infrastructure Financing Awards. The
11-year deal drew more than 12 billion pesos
in demand, capitalizing on international
enthusiasm for the currency while
presenting a structure with protections that
made enough buyers comfortable. RCO
followed this in June with a reopening of the
20-year domestic bond to raise 1.8 billion
pesos.
HSBC also worked on the Mexico
Generadora de Energía project bond,
which wins Best Power Financing, and
the Concessionária Auto Raposo Tavares
(CART), which is Best Infrastructure
Financing, Brazil.
Elsewhere in the domestic markets,

THE INFRASTRUCTURE BUILDOUT IN
LATIN AMERICA IS
PERHAPS NOT WHERE
GOVERNMENTS,
INVESTORS AND COMPANIES WOULD LIKE
IT TO BE, BUT THERE
HAS BEEN NO SHORTAGE OF IMPRESSIVE
PROJECTS IN THE
REGION DURING THIS
YEAR’S AWARDS
PERIOD

REGIONAL PRESENCE: HSBC has
worked on CART in Brazil, as well
as numerous other infrastructure
finance deals in Latin America

HSBC helped arrange a 3.56 billion Mexican
peso ($272 million) loan for the Eoliatec
del Istmo wind energy project. Five banks
participated in the 14-year loan closed in
2012.
The bank was a mandated lead arranger
(MLA) on the $3.2 billion loan for the Etileno
XXI petrochemical complex in Mexico in
December 2012, a strong contender for
the Best Oil/Gas Financing award. The
deal for Braskem and Idesa was one of the
region’s largest project finance deals in
the period and called its largest ever for
petrochemicals. It represented the first time
Mexico and Brazil’s development banks
have worked together to finance a project,
and the first time the Brazilian has used its
international line. Elsewhere, HSBC was
MLA on a $731 million term loan for the
Technip Odebrecht PLSV Pipelay project.
HSBC also worked on important
transactions under consideration in the
Best Infrastructure Financing, Andean,
category. The $1.5 billion package arranged
for Empresa Eléctrica Cochrane in Chile
earlier this year was one of the largest
power projects in the period, the largestever power financing in Chile and the first
Japanese-sponsored independent power
project in South America. HSBC was
financial advisor, and a lender on a $250
million 17-year tranche.
In Peru, nine banks teamed up for the
Cerro del Águila hydroelectric power plant
financing last year. The 504 megawatt
facility is the largest of its type in the
country. HSBC was a joint lead arranger for
a 12-year $534 million term loan. The project
sponsored by Israel Corp was highlighted by
lenders taking some permitting, merchant
and seasonality risk. LF


http://www.LATINFINANCE.COM

LatinFinance - September/October 2013

Table of Contents for the Digital Edition of LatinFinance - September/October 2013

Latin Finance - September/October 2013
Contents
Front notes
People news
Debt news
Equity news
M&A news
After the storm
Advantage Mexico
Treading water
New structures
Mexico
Regaining the Initiative
Deficit Ahead
Building up
Switching Course
Brazil
Work in progress
Extreme makeover
Mind the gap
Brazilian life insurance
Andean
Breaking the fall
Reaching out
Market movers
Paraguay
Smoothing the cycles
Thinking big
Parting Shot
LatinFinance - September/October 2013 - Latin Finance - September/October 2013
LatinFinance - September/October 2013 - Cover2
LatinFinance - September/October 2013 - Contents
LatinFinance - September/October 2013 - 2
LatinFinance - September/October 2013 - 3
LatinFinance - September/October 2013 - Front notes
LatinFinance - September/October 2013 - 5
LatinFinance - September/October 2013 - People news
LatinFinance - September/October 2013 - 7
LatinFinance - September/October 2013 - Debt news
LatinFinance - September/October 2013 - 9
LatinFinance - September/October 2013 - Equity news
LatinFinance - September/October 2013 - 11
LatinFinance - September/October 2013 - M&A news
LatinFinance - September/October 2013 - 13
LatinFinance - September/October 2013 - 14
LatinFinance - September/October 2013 - 15
LatinFinance - September/October 2013 - 16
LatinFinance - September/October 2013 - 17
LatinFinance - September/October 2013 - 18
LatinFinance - September/October 2013 - 19
LatinFinance - September/October 2013 - 20
LatinFinance - September/October 2013 - 21
LatinFinance - September/October 2013 - 22
LatinFinance - September/October 2013 - 23
LatinFinance - September/October 2013 - After the storm
LatinFinance - September/October 2013 - 25
LatinFinance - September/October 2013 - Advantage Mexico
LatinFinance - September/October 2013 - 27
LatinFinance - September/October 2013 - Treading water
LatinFinance - September/October 2013 - 29
LatinFinance - September/October 2013 - 30
LatinFinance - September/October 2013 - New structures
LatinFinance - September/October 2013 - 32
LatinFinance - September/October 2013 - 33
LatinFinance - September/October 2013 - 34
LatinFinance - September/October 2013 - 35
LatinFinance - September/October 2013 - 36
LatinFinance - September/October 2013 - 37
LatinFinance - September/October 2013 - 38
LatinFinance - September/October 2013 - 39
LatinFinance - September/October 2013 - 40
LatinFinance - September/October 2013 - Mexico
LatinFinance - September/October 2013 - Regaining the Initiative
LatinFinance - September/October 2013 - 43
LatinFinance - September/October 2013 - Deficit Ahead
LatinFinance - September/October 2013 - 45
LatinFinance - September/October 2013 - Building up
LatinFinance - September/October 2013 - 47
LatinFinance - September/October 2013 - 48
LatinFinance - September/October 2013 - 49
LatinFinance - September/October 2013 - 50
LatinFinance - September/October 2013 - 51
LatinFinance - September/October 2013 - Switching Course
LatinFinance - September/October 2013 - 53
LatinFinance - September/October 2013 - 54
LatinFinance - September/October 2013 - 55
LatinFinance - September/October 2013 - 56
LatinFinance - September/October 2013 - Brazil
LatinFinance - September/October 2013 - Work in progress
LatinFinance - September/October 2013 - 59
LatinFinance - September/October 2013 - 60
LatinFinance - September/October 2013 - 61
LatinFinance - September/October 2013 - Extreme makeover
LatinFinance - September/October 2013 - 63
LatinFinance - September/October 2013 - 64
LatinFinance - September/October 2013 - 65
LatinFinance - September/October 2013 - 66
LatinFinance - September/October 2013 - Mind the gap
LatinFinance - September/October 2013 - 68
LatinFinance - September/October 2013 - 69
LatinFinance - September/October 2013 - Brazilian life insurance
LatinFinance - September/October 2013 - 71
LatinFinance - September/October 2013 - 72
LatinFinance - September/October 2013 - Andean
LatinFinance - September/October 2013 - Breaking the fall
LatinFinance - September/October 2013 - 75
LatinFinance - September/October 2013 - 76
LatinFinance - September/October 2013 - Reaching out
LatinFinance - September/October 2013 - 78
LatinFinance - September/October 2013 - 79
LatinFinance - September/October 2013 - 80
LatinFinance - September/October 2013 - 81
LatinFinance - September/October 2013 - Market movers
LatinFinance - September/October 2013 - Paraguay
LatinFinance - September/October 2013 - Smoothing the cycles
LatinFinance - September/October 2013 - 85
LatinFinance - September/October 2013 - Thinking big
LatinFinance - September/October 2013 - 87
LatinFinance - September/October 2013 - Parting Shot
LatinFinance - September/October 2013 - Cover3
LatinFinance - September/October 2013 - Cover4
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