León López, Gizeh Polo and Juan David Mina

Cuatrecasas advises MAM on financing for Gasoducto de Morelos pipeline

Cuatrecasas, through its team in Mexico City, has advised Macquarie Asset Management (MAM) on the financing used to refinance the debt of Gasoducto de Morelos and finance the potential acquisition of additional assets in the hydrocarbons sector.

This transaction, closed on December 2023, had an amount of US $235 million, granted to MIP Cinco Gas, by Sumitomo Mitsui Banking Corporation (SMBC, lead arrenger and lender), Inbursa, Monex, Banco Sabadell Mexico and Mega Bank. Citi and Citibanamex acted as administrative agent and collateral agent, respectively.

Other participating firms include Vinson & Elkins as US counsel to MAM, and Ritch Mueller and Milbank as advisors to the lenders in Mexico and the US, respectively.

The Morelos pipeline is 172 kilometres long and transports natural gas for the Federal Electricity Commission (CFE) in the states of Tlaxcala, Puebla and Morelos. With a capacity of 337 million cubic feet per day, it is a strategic asset for energy supply in central Mexico.

Ritch Mueller’s team was led by partners Eduardo Triulzi Garciadiego and Jorge Oria y Anaya, with the support of partner Santiago Llano Zapatero and lawyers Anitza Velázquez Márquez, Eric Humberto Palacios Hurtado, Isabel Hedrosa Navarrete, Jesus Martín Corona González, Manuel Nucci González de Cosío, María Fernanda Ibargüengoitia Lira, Samantha Maasberg López.

Cuatrecasas’ team included partners León López (pictured left), Gizeh Polo (pictured centre) and Juan David Mina (pictured right), and associates Rafael Rodríguez, Juan Eduardo Montes de Oca, Myriam Daniela Sancliment, Mariajosé Raimond, María Isabel Santana and Jorge Antonio Jiménez.

L Giselle Estrada