MIAMI (October 11, 2019) – Holland & Knight was recognized by LatinFinance magazine for its advisory role in the US$8.7 billion financing of Engie's acquisition of TAG, Brazil's largest gas pipeline company. The transaction was named the Oil & Gas Financing of the Year at LatinFinance's 2019 Project and Infrastructure Awards, held in New York on October 3. Winners were also announced in the magazine's Fall 2019 issue.
LatinFinance's annual Project and Infrastructure Awards recognize the most impressive transactions and institutions in an area that is crucial to the economic progress of Latin America and the Caribbean. Winning deals are chosen by the magazine's editorial staff following an examination of information and data provided by market participants, interviews with industry leaders and research of publicly available information.
Holland & Knight Partner Peter Baumgaertner and Senior Counsel Daniel Brown represented Mitsubishi Union Bank, N.A. (MUFG) and TMF Group, who acted as collateral agents in the TAG deal. Engie, a French energy company, along with Canadian pension fund CDPQ, acquired 90 percent of TAG from Petrobras in June. They raised the funds for the purchase through a US$2.4 billion cross-border loan from a syndicate of banks and a $14 billion reais (US$3.7 billion) securities issuance in Brazil. The remainder US$2.8 billion was raised through equity.
More information about the financing can be found here.
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