H&K advises NADB on 2 ESG loans to Baja California
Holland & Knight has advised the North American Development Bank (NADB), acting through its affiliate Cofidan, on two environmental, social and governance (ESG) loans to the Mexican State of Baja California valued at US$162 million.
The loan agreement was signed on 31 January. NADB made the first disbursement of funds from the ESG loans in March.
This ESG loan facilities are the first of their kind for the State of Baja California, and the proceeds will be used to strengthen the state’s water infrastructure projects. Furthermore, the state was awarded an MXN$1 billion fixed-rate loan and a MXN$2 billion variable-rate loan. Thanks to this transaction Mexico can continue its objective to meet its commitments as a participant in the United Nations (UN) Climate Change Conference and the UN 2023 Agenda for Sustainable Development Goals.
H&K’s team included partners Alejandro Landa Thierry (pictured left) and Guillermo Uribe Lara (pictured right) and associates Aldo Gonzalez Melo and Santiago Noriega.
