Latham & Watkins Recognized at LatinFinance 2023 Deals of the Year Awards

Latham & Watkins’ Latin America Practice was recognized for advising on the Loan of the Year at LatinFinance’s 2023 Deals of the Year Awards, highlighting the firm’s continued excellence in the region. The awards celebrate the most impressive transactions and institutions in fields critical to Latin America’s economic progress.

The firm advised on:

• Loan of the Year Winner: TC Energy US$2.3 billion Term Loan & Revolving Credit Facility — Latham advised the joint global coordinators, lead arrangers, and bookrunners in connection with the US$2.3 billion five-year credit facilities provided to Mexico’s TC Energía Mexicana, S. de R.L. de C.V. (TCEM), a subsidiary of TC Energy Corporation (TC Energy). The credit facilities include a US$1.8 billion term loan facility and a US$500 million revolving facility.

TC Energy formalized a strategic alliance with Mexico’s Comisión Federal de Electricidad (CFE), Mexico’s state-owned electric utility and largest power generator, to consolidate the existing natural gas under a single, US dollar-denominated transportation services agreement that extends through 2055. The credit facility financing refinances existing intercompany indebtedness facilitating the objectives of this alliance, through which TC Energy and CFE will develop and construct the TGNH Southeast Gateway Pipeline, a US$4.5 billion offshore natural gas pipeline project that will transport 1.3 billion cubic feet per day of natural gas to Mexico’s southeast region.

Latham’s work in Latin America has also been recently recognized by IJInvestor, Chambers, and The Legal 500.