Desarrollos Eólicos Mexicanos de Oaxaca 1, Renovalia's subsidiary, issues $126 million of stock market certificates
Clients Desarrollos Eólicos Mexicanos de Oaxaca 1, S.A.P.I. de C.V.
Jones Day advised Desarrollos Eólicos Mexicanos de Oaxaca 1, S.A.P.I. de C.V. (“Demex”), a Renovalia subsidiary, in connection with its issuance of $126 million of stock market certificates guaranteed by a trust agreement and a pledge agreement governed. Jones Day also assisted Demex in the drafting and negotiation of a MXN$220 million (US$13.1 million) loan provided by Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo Financiero, Santander México to be used to create a reserve for the service debt of the stock market certificates and a reserve for operation and maintenance of the project developed by Demex. Demex will use the proceeds of the issuance and the loan to refinance debt incurred building and operating a 90 MW wind farm in Oaxaca.