Milbank instructed on financing of two offshore drilling units in Mexico

Milbank advised BBVA, HSBC, Sabadell and Santander in providing project financing to fund construction and operation of two offshore drilling units for Pemex.

The financing closed on March 16 and was led by partners Dan Bartfeld and Roland Estevez at Milbank. The deal is considered the first vessel-related financing transaction in 2016 involving Pemex.

Pemex will lease the KFELS B-class mobile offshore, self-elevating drilling rigs – commonly known as jack-ups – from affiliates of Mexican energy infrastructure company Grupo R which will own the vessels.

Ignacio Abella