AWARDS: Best Oil & Gas Financing.

AWARDS: Best Oil & Gas Financing.

Corporate & Sovereign Strategy Loans Mexico

Odds were stacked against the three project sponsors for the Waha natural gas pipelines. The trio tackled regulations in two countries while assembling a large funding package – and at a time when commercial banks’ appetite for long-term non-recourse finance was low. To develop pipelines reaching Presidio and San Elizario in Texas, and connecting them with the Ojinage-El Encino pipeline in Mexico, sponsors Carso Energy, Energy Transfer Partners and MasTec needed specific “presidential permitting”, to cover ground in the US and Mexico, Carso Energy chief financial officer Hector Kuri says. With two pipelines and two jurisdictions, the sponsors in November found a way to structure the 18-year

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