Tuesday, 15 September 2020 19:44

Cleary Gottlieb guides $800m IEnova global bond offering

Cleary Gottlieb has represented the initial purchasers in an $800 million global bond offering by Mexico's Infraestructura Energética Nova (IEnova)

Jorge JuantorenaIEnova is the Mexican unit of US company Sempra Energy, and is engaged in the construction and management of natural gas pipelines and renewable energy projects in the country.

The issuance comprised 4.750 per cent senior notes due 2051 and was conducted as a private placement in the US under Rule 144A, and an offshore offering in reliance on Regulation S.

The transaction priced on September 10, 2020 and is expected to close on September 15, 2020.

The initial purchasers of the bonds advised by Cleary Gottlieb were BBVA Securities, BofA Securities, Citigroup Global Markets, JP Morgan Securities and Scotia Capital (USA). 

Cleary previously represented the initial purchasers in IEnova’s initial public offering and follow-on offering, which was the largest equity capital markets transaction in Latin America in 2016, as well as in IEnova’s debut investment grade global bond offering in 2017.

The Cleary corporate lawyers on the transaction were partner Jorge Juantorena (pictured), associate Jessica Repond, and international lawyer Gabriela Gallo.

Partner Jason Factor, senior attorney David Stewart Fisher and associate Michael Sims provided tax advice. All lawyers are based in New York.

In a separate deal, the law firm is advising América Móvil on its sale of its wholly owned subsidiary, TracFone Wireless to Verizon Communications for $6.25 billion in cash and Verizon common stock.

América Móvil will also be entitled to up to $650 million of contingent and deferred consideration pursuant to the terms of the transaction agreement. 

TracFone is the largest mobile virtual prepaid service operator in the United States, serving approximately 21 million subscribers.

The law firm did not release its counsel list for América Móvil.

The Latin American Lawyer
N.15 • September - October 2020

LAL12 cover EN


Iberian Lawyer
N.97 • September 2020

IL94 cover SP IL94 cover EN

legalinnovation webbanner 300x100px v2

legalinnovation webbanner 300x100px v2

Lexpo20 webbanner 300x100px v2

FortuUnder40awards Banner 300x250 CallForSub 2

IL LabourAwardsPT 300x100 Finalists3

IL Lawit 300X100 October

IL LabourAwardsSP 300x100 Finalists3

IL LatamAwards STD 300x100 1

This website uses cookies

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the IberianLawyer website. However, you can change your cookie settings at any time. Learn more

I agree

What do I need to know about cookies?

A cookie is a small text file that’s stored on your computer or mobile device when you visit a website. We use them to:

  • Remember your preferences
  • Tailor our sites to your interests.

There are different types of cookies

First party cookies

These are set by the website you’re visiting. And only that website can read them.  In addition, a website might use a separate company to analyse how people are using their site. And this separate company will set their own cookie to do this.

Third party cookies

These are set by someone other than the owner of the website you’re visiting. 

Some IberianLawyer web pages may also contain content from other sites like Vimeo or Flickr, which may set their own cookies. Also, if you Share a link to a IberianLawyer page, the service you share it on (e.g. Facebook) may set a cookie on your browser.

The IberianLawyer has no control over third party cookies.

Advertising cookies

Some websites use advertising networks to show you specially targeted adverts when you visit. These networks may also be able to track your browsing across different sites.

IberianLawyer site do use advertising cookies but they won’t track your browsing outside the IberianLawyer.

Session cookies

These are stored while you’re browsing. They get deleted from your device when you close your browser e.g. Internet Explorer or Safari.

Persistent cookies

These are saved on your computer. So they don’t get deleted when you close your browser.

We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.

Other tracking technologies

Some sites use things like web beacons, clear GIFs, page tags and web bugs to understand how people are using them and target advertising at people.

They usually take the form of a small, transparent image, which is embedded in a web page or email. They work with cookies and capture data like your IP address, when you viewed the page or email, what device you were using and where you were.

How does the Iberian Lawyer use cookies?

We use different types of cookies for different things, such as:

  • Analysing how you use the IberianLawyer
  • Giving you a better, more personalised experience
  • Recognising when you’ve signed in

Strictly Necessary cookies

These cookies let you use all the different parts of Iberian Lawyer. Without them services that you have asked for cannot be provided.

Some examples of how we use these cookies are:

  • Signing into the IberianLawyer
  • Remembering previous actions such as text entered into a registration form when navigating back to a page in the same session
  • Remembering security settings which restrict access to certain content.

Performance cookies

These help us understand how people are using the IberianLawyer online, so we can make it better. And they let us try out different ideas.
We sometimes get other companies to analyse how people are using the IberianLawyer online. These companies may set their own performance cookies You can opt out of these cookies here.Some examples of how we use these cookies are:

  • To collect information about which web pages visitors go to most often so we can improve the online experience
  • Error management to make sure that the website is working properly
  • Testing designs to help improve the look and feel of the website.
Cookie nameWhat it's for
Google DoubleClick The IberianLawyer uses Google DoubleClick to measure the effectiveness of its online marketing campaigns.Opt-out of DoubleClick cookies
Google Analytics From time to time some IberianLawyer online services, including mobile apps, use Google Analytics. This is a web analytics service provided by Google, Inc. Google Analytics sets a cookie in order to evaluate use of those services and compile a report for us.Opt-out of Google Analytics cookies