C reel advises KKR in historic sale-leaseback with Pemex

CREEL, GARCÍA-CUÉLLAR, AIZA Y ENRÍQUEZ S.C.

Creel represented Global Private Equity Fund KKR in the structuring and financing of a US$1.3 billion sale-leaseback asset transaction with Pemex, Mexico´s state owned oil company.

Creel represented Global Private Equity Fund KKR in the structuring and financing of a US$1.3 billion sale-leaseback transaction with Petroleos Mexicanos (Pemex), Mexico´s state-owned oil company, a first-in-kind transaction for Pemex under its new regime derived from Mexico’s Energy Reform in 2014, kicking off a new era in funding for Pemex. Our involvement with the project began with the structuring of the 15 year sale-leaseback asset transaction under Pemex legal framework, the negotiation of all transaction documents, and the US$980 million financing that was funded through a bond issuance and a bank syndicated loan. This transaction has paved the way for other private equity firms to invest in Mexico´s Energy sector.

This past January the transaction was awarded the “Private Equity Deal of the Year Award 2016” by Latin Finance in their Deal of the Year Awards Ceremony which recognizes the top Latin America Capital Markets transactions, and more recently IJ Global awarded the transaction their “Oil & Gas Latin America Deal of the Year Award 2016” at their Deal Awards Dinner held in New York City recognizing the top companies and deals in the energy and infrastructure sector. Our Firm has been shortlisted in the Private Equity category by both Latin Lawyer 250 and International Financial Law Review (IFLR 1000) for our representation of KKR in this transaction.

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