Haynes and Boone Assists Cotemar in $160 Million Loan Refinancing


MEXICO CITY - Mexico’s Haynes and Boone SC has helped Mexican offshore oil field service provider Cotemar secure US$160 million to refinance a loan from Banamex and Citibank.

BBVA Bancomer and HSBC México were the lenders and turned to Nader, Hayaux & Goebel. The deal closed on 28 November.

Cotemar secured the loan with a mortgage over several of the company’s vessels and through a security trust estate agreement with Pemex Exploración y Producción (PEP), a subsidiary of Mexico’s state-owned oil company. Cash flow from Cotemar’s lease of a platform to PEP was used as collateral for the loan ...

Counsel to Cotemar - Haynes and Boone SC - Partners Jorge Labastida and Luis Moreno and associate César Ramírez del Ángel.

Excerpted from Latin Lawyer. For full article click here (subscription required).

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