The Ministry of Finance and Public Credit (SHCP) received the “M&A Loan Deal of the Year” award at the Global Banking & Markets: Latin America Awards 2024, for the $6.2 billion transaction for the acquisition of the 13 plants from Iberdrola .
According to information from the agency, the Global Banking & Markets Awards represent one of the most prestigious recognitions in the financial field for Latin America and the Caribbean, which highlights the most innovative and disruptive in the capital, credit and sustainable financing markets. , as well as the actors who promote them.
The SHCP asserted that the importance of these awards lies in its rigorous selection process, which examines criteria such as the size of the operation, structure, term, distribution and access to new sources of financing.
Additionally, additional points are awarded to those transactions that demonstrate high quality in their execution and that open new markets or innovate in their structure for investors and the international community. These awards represent an opportunity to identify transactions that promote economic growth, stability and innovation in Latin America.
Last April, the federal government announced that the acquisition of Iberdrola’s 13 electricity generation plants would be an operation financed mainly by the National Infrastructure Fund (Fonadin).
Fonadin would allocate 45,000 million pesos to the capital (which will be a contribution from the SHCP) to have 51% of the value of the risk capital, which would have control of the assets and the financial vehicle established for said operation.
In addition, there would be financing of 66.5 billion pesos, which will be supported by the project flows themselves, and which will have the participation of the development banks (Banobras, Nacional Financiera and Bancomext), in addition to the large banks in Mexico. They offered to provide financing.
Last September, the vehicle created by the federal government for the acquisition of Iberdrola’s 13 electric power plants, called Mexico Energy Investment Trust (Fiemex), issued a historic bond in the international debt markets, for a total amount of 1,490 million dollars maturing in 2041.
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