project & infrastructure finance awards
Always a strong contender in the region, this year MUFG Bank Ltd. distinguished itself with involvement in project and infrastructure deals that were among both winning transactions and strong contenders.
Their involvement in the energy sector was particularly noteworthy, working on transaction that won the Mexico category in this year’s PIF awards.
That deal, the $403.9 billion senior-secured credit term loan facility for the greenfield Ca-Ku-A1 gas compression project, is expected to help Pemex, Mexico’s state-owned oil company increased efficiencies throughout the underwater oil reservoir where it is located and also help reverse its production decline.
MUFG worked to close the deal during the COVID-19 pandemic in early April, when the Western Hemisphere was seeing contraction and death rates skyrocket. The bank instituted temporary elimination of in-person client meetings, and adopt work-from-home policies like its competitors.
In addition to closing the Ca-Ku-A1 deal, MUFG also worked on the restructuring of the $1.45 billion restructuring of the existing Ramones II Norte financing, particularly the restructuring of the $332 million 20-year private placement issuance in December of last year. That deal was sponsored equally by IEnova and Brookfield.