{"id":9056,"date":"2018-04-30T08:33:41","date_gmt":"2018-04-30T14:33:41","guid":{"rendered":"https:\/\/www.creel.mx\/?post_type=cltvo_publicaciones&#038;p=4107"},"modified":"2026-04-10T09:36:50","modified_gmt":"2026-04-10T15:36:50","slug":"capital-markets-update-april-2018-en","status":"publish","type":"cltvo_publicaciones","link":"https:\/\/www.creel.mx\/en\/publications\/capital-markets-update-april-2018-en\/","title":{"rendered":"Capital Market Report"},"content":{"rendered":"<p>Creel, Garc\u00eda-Cu\u00e9llar, Aiza y Enr\u00edquez advises on another round of innovative and first-of-their-kind transactions (following on those reported in August 2017 and October 2016), maintaining its market leading position on the most sophisticated and demanding projects in Mexico.<\/p>\n<p>In the first quarter of 2018, Creel advised on the first-ever initial business combination (de-SPAC) by a Special Purpose Acquisition Company (SPAC) and on 5 groundbreaking capital markets transactions, including the second-ever FIBRA E and the first sponsored by a state-controlled company, the second-ever Special Purpose Acquisition Company (SPAC), the third-ever and largest Fibra E offering and second largest IPO in Mexican history, the first-ever multi-sovereign catastroph bond offering, and the first CKD offering of a fund focused on the agricultural sector in Mexico.<\/p>\n<ul>\n<li>After advising <strong><em>Riverstone<\/em> <\/strong>and <em><strong>Vista Oil &amp; Gas<\/strong><\/em> in the <strong>first-ever Special Purpose Acquisition Company (SPAC) listing in Mexico and Latin America<\/strong>, advised Vista on all matters relating to the approval, financing and execution of its Initial Business Combination consisting of the acquisition of a fully operational oil &amp; gas platform from Pampa Energ\u00eda and Pluspetrol Resources located in Argentina\u2019s Vaca Muerta shale formation in the amount of US$800 million. This is the<strong> first de-SPAC process in the Mexican and Latin American markets. <\/strong><\/li>\n<li>After advising on the first-ever Fibra E offering, advised <em><strong>Barclays Capital, BBVA Bancomer, Goldman Sachs, Evercore, Morgan Stanley,<\/strong><\/em> and <em><strong>Santander<\/strong> <\/em>as lead Mexican underwriters and initial purchasers on the global offering of the <strong>second-ever FIBRA E offering<\/strong> sponsored by Mexico\u2019s state power utility company, CFE, which raised US$885 million from Mexican and international investors.<\/li>\n<li>Advised <strong><em>Promecap<\/em> <\/strong>and <em><strong>Promecap Acquisition Company<\/strong><\/em>, a special purpose acquisition company (or SPAC), in the<strong> second-ever SPAC listing in Mexico and Latin America<\/strong>, through a combined global offering which raised US$300 million.<\/li>\n<li>Advised <em><strong>Banorte IXE, BBVA Bancomer, BTG Pactual, Citigroup, Credit Suisse, Inbursa,<\/strong> <\/em>and <em><strong>Santander<\/strong><\/em>, as lead Mexican underwriters and initial purchasers on the global offering of the third-ever <strong>FIBRA E<\/strong> sponsored by <em><strong>Grupo Aeroportuario de la Ciudad de M\u00e9xico<\/strong><\/em> for the financing of the construction and development of the new Mexico City International Airport, which raised US$1.64 billion. This is the <strong>largest-ever offering of a FIBRA E in Mexico, the largest IPO in the country since 2012, and the second largest IPO in Mexican history. <\/strong><\/li>\n<li>Advised the<em><strong> Mexican Government<\/strong> <\/em>on the <strong>Joint Multi-Country Floating Rate Insurance-Linked Capital at Risk Notes, issued under the IBRD Global Debt Issuance Facility<\/strong>, a catastrophic risk transfer transaction ending in the issuance of floating rate insurance-linked capital at risk notes, in which the Mexican Government acted as insured party. The IBRD issued five catastrophe bond series worth a combined US$1.36 billion for the benefit of Chile, Colombia, Mexico and Peru (Pacific Alliance Member Countries). Mexico is insured by two series of bonds worth US$260 million against earthquakes in Mexico. This is the <strong>largest single issuance of catastrophe bonds the IBRD has ever done, and the largest sovereign risk insurance transaction ever. <\/strong><\/li>\n<li>Advised <strong><em>RRG Capital Management<\/em><\/strong> and <em><strong>Grupo Renovables Agr\u00edcolas (GRA)<\/strong><\/em> on the <strong>first-ever agricultural-focused CKD<\/strong> fund and the registration and initial public offering of the capital development certificates (certificados burs\u00e1tiles de capital de desarrollo) sponsored by RRG Capital and managed by GRA, for MXP$800 million. This is the <strong>first-ever CKD fund in the Mexican market focused on developing projects to improve the agricultural sector in Mexico. <\/strong><\/li>\n<\/ul>\n<p>We thank our clients for their confidence in our ability to bring the most challenging transactions to market, and as always reaffirm our unwavering commitment to excellence.<\/p>\n<p>Mexico City, April 30, 2018<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Creel, Garc\u00eda-Cu\u00e9llar, Aiza y Enr\u00edquez advises on another round of innovative and first-of-their-kind transactions (following on those reported in August 2017 and October 2016), maintaining its market leading position on the most sophisticated and demanding projects in Mexico.<\/p>\n","protected":false},"featured_media":0,"template":"","cltvo_categoria_tax":[82],"tipo_publicacion_taxonomy":[179],"class_list":["post-9056","cltvo_publicaciones","type-cltvo_publicaciones","status-publish","hentry","cltvo_categoria_tax-capital-markets","tipo_publicacion_taxonomy-client-alerts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Capital Market Report -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.creel.mx\/en\/publications\/capital-markets-update-april-2018-en\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Market Report -\" \/>\n<meta property=\"og:description\" content=\"Creel, Garc\u00eda-Cu\u00e9llar, Aiza y Enr\u00edquez 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