Linklaters Advises Banco Santander and European Export Credit Agency on US$357.8 Million Buyer-Credit Refinancing for the Mexicali Oriente Power Plant

Linklaters advised Banco Santander, S.A. in its capacities as ECA Coordinator, Lender, Agent, Mandated Lead Arranger and a European Export Credit Agency on a US$357.8 million buyer-credit refinancing in favor of a trust established by Comisión Federal de Electricidad (CFE) — the state-owned electric utility of Mexico — for the construction of the Mexicali Oriente Power Plant project located in Mexicali, Baja California.

The project consists of the installation of 24 internal combustion engines with a capacity of 441.3 MW within the Transitional Energy Program and will contribute to increasing the reliability, continuity and security of the Baja California Electric System to meet the growing demand for energy in the area.

The Linklaters team was led by Milan-based Banking and Energy Infrastructure Partner and Head of Linklaters’ European Export Finance Practice Tessa Lee and Head of Linklaters Mexico Group Alberto Garcia Linera, based in Mexico City, alongside Managing Associate Lucia Ciocarlan and Associate Matteo Bencic, both based in Milan.

Linklaters’ lawyers have practiced in Latin America for decades and Linklaters was one of the first international firms to open an office in Brazil in 1997. With a growing team of Latin America-focused lawyers across New York, Washington, D.C. and São Paulo, the firm continues to increase its presence in the Latin America region and deepen existing relationships with leading local law firms. Linklaters is highly ranked across key Latin America legal directories including Chambers, Legal 500 and Latin Lawyer, and in the past year took home three deal of the year awards for Sovereign Bond, Quasi-Sovereign Bond and Equity Follow-On of the Year Awards.