Hybar, a newly formed company, has announced that it successfully raised US$700 million of debt and equity financing to build, start up and operate a technologically advanced, environmentally sustainable scrap metal recycling steel rebar mill. The equity portion of the financing was led by TPG Rise Climate, the dedicated climate investing strategy of TPG's global impact investing platform TPG Rise, and Global Principal Partners, the investment entity used by Hybar's senior management team.
Latham & Watkins LLP advised Hybar in the financing, with a capital markets team led by New York partners Michael Benjamin and Benjamin Stern, and Los Angeles counsel Anna Rienhardt, with New York associates Robyn Sablove, Elina Stavropoulou,* and Hana Nah; and a finance team led by Washington, D.C. partners Manu Gayatrinath and Katherine Putnam, with Washington, D.C. associates Eleni Belay, and Katie Inglis. Advice was also provided on IP matters by New York partner Jeffrey Tochner, with associate Zachary Shufro; on Tax matters by Bay Area partner Katharine Moir, with Los Angeles associate Kathryn Harrington; on collateral matters by New York partner Brian Rock; on project finance matters by Los Angeles partner Matthew Henegar, with New York associate Cáit O’Neill; on ESG matters by New York partner Betty Huber, with associate Karmpreet Grewal; and on real estate matters by New York partner Dara Denberg and Chicago counsel Jeffrey Anderson.
*Not admitted to practice in New York. Admitted in Greece and England & Wales.