José A. Cobeña Serrano

Counsel
Norton Rose Fulbright US Consultores em Direito Estrangeiro

José A. Cobeña Serrano

José A. Cobeña Serrano

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Biography

José A. Cobeña is a New York finance attorney with more than 15 years of experience in banking and projects transactions in Latin America. He represents corporates, commercial banks and multilateral agencies on various types of financing and projects. José has successfully advised multinational companies and financial institutions in relation to bank lending (including acquisition finance and trade finance), project finance, construction, procurement, equity investments, M&A and commercial contracts. José has particular experience in various Latin America cross border complex deals including: Brazil, Colombia, Perú, México, Chile, Panamá, Ecuador and Venezuela.


Professional experience

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Post-graduate in Business Administration, Fundação Getulio Vargas, 2012
LL.M, Georgetown University Law Center, 2007
JD, Universidad Catolica Andres Bello, 2002

  • New York State Bar
  • Venezuela Bar

Brazil:

  • Represented Banco Santander, S.A. in the closing of a US$22.3 million ECA-backed loan to Brazilian utility company Eletronuclear, guaranteed by Eletrobras, for the financing of ongoing feasibility studies for the proposed lifetime extension of its Angra 1 nuclear plant. This financing was backed by a comprehensive guarantee provided by the Export-Import Bank of the United States.
  • Advised Fitesa in a EUR€39 million export credit facility agreement arranged by HSBC Securities (USA) Inc
  • Advised the lenders on the bridge financing and US$470 million long-term financing of the acquisition and upgrade of a drillship sponsored by a Brazilian company, to be chartered to the Brazilian national oil company.
  • Advised the lender with respect to a US$300 million loan to a sovereign entity to fund its road building program in Brazil. The loan was guaranteed by the Brazilian Federal Government, and in an innovative structure, also the World Bank's MIGA.
  • Advised the lenders of a US$366 million facility for the acquisition of a submarine telecommunications cable in various jurisdictions in Latin America (Private Equity Deal of the Year 2013, Latin Finance).
  • Advised a Brazilian company on the acquisition financing of the hygiene division of a UK listed company, to form one of the leading hygiene nonwovens businesses in the world.
  • Advised a multilateral bank in connection with an A/B loan to a financial institution in Brazil using a structure funded through the capital markets through the issuance of notes by a private placement.
  • Advised a multilateral bank on a R$320 million credit facility extended to a water treatment and sewage company in Brazil for, inter alia, the prepayment of short-term facilities and the acquisition of water and sewage concessions. This was the first reais-denominated credit facility extended by such multilateral bank using funds in reais from their treasury in Brazil.
  • Advised a multilateral bank as New York counsel on an equity investment of up to US$25 million equivalent in BRL and a debt financing of up to US$ 15,000,000 to a Brazilian drinks company to support the company's growth plans and strengthening of its capital structure.
  • Acted for a multilateral bank as lender in a US$400 million A/B/Parallel "green" loan facility extended to Brazilian financial institution, to finance a variety of projects relating to renewable energy, water capture and treatment, energy efficiency and greenhouse gas reduction; the facility is the largest of its kind raised by a Latin American bank to finance these types of projects.
  • Acted for a multilateral bank in the US$80 million facility extended to a Brazilian energy company, of which US$40 million was a loan provided by the multilateral bank and US$40 million was a syndicated loan with the participation of commercial banks.
  • Acted for a multilateral bank in an A/B/MCPP loan facility extended to a Brazilian financial institution, for an amount of US$250 million, which was used to finance eligible women-owned micro, small and midsized enterprises in Brazil.
  • Acted for a multilateral bank in an A/B loan facility extended to a Brazilian financial institution, for an amount in Reais equivalent to $50 million (A loan) and an amount of US$184.8 million and EUR30.5 million (B loan), which was used to finance the growth of the financial institution's credit portfolio in the northern, northestern, mid-western regions of Brazil, excluding the Federal District, and the western half of the state of Minas Gerais.
  • Advised two affiliates of a Brazilian energy company in connection with two EUR15,000,000 guarantee facility agreements extended by a commercial bank to each affiliate for the purpose of guaranteeing two EUR45,000,000 credit facilities extended by an European multilateral bank.
  • Advised a Brazilian steel producer in a US$750 million Senior Revolving Credit Agreement with a syndicate of commercial banks.
  • Acted for a Brazilian cement company in connection with a US$25.5 million facility extended by a Chinese bank, which is backed with security over a fixed deposit account and an insurance policy issued by a Chinese export credit agency.
  • Advised a Brazilian company with respect to 21 EPC contracts for the construction of drilling rigs with a value of approx. US$850 million each.
  • Advised a major mining company in respect of the construction of an integrated steel production facility in Brazil for the manufacture and production of steel slabs with a capacity of 3Mt/y.

Colombia:

  • Represented Alupar Investimento S.A. (Alupar) in a US$163.5 million project financing for a transmission line in Colombia through its subsidiary, Transmisora Colombiana de Energia S.A. E.S.P (TCE), which was the first international project financing of a transmission line in Colombia.
  • Representing the trustee on the refinancing of a 4G highway in Colombia, consisting of a bond to be issued under Rule 144a / Regulation S of the United States Securities Act of 1933.
  • Advised the sponsor on a financing of a 4G highway in Colombia, consisting of a revolving short-term facility and a combination of COP loans from multilateral and commercial banks and of UVR bonds to be issued in the international capital markets.
  • Represented the consortium formed by Siemens Project Ventures, ICA, Powerchina and Strukton in its bid for the concession to design, build, finance, operate and maintain the Primera Línea del Metro de Bogotá - Tramo I PPP project being brought to market by Empresa Metro de Bogotá, S.A.
  • Representing the project sponsors on the project financing for the construction of a palm oil plant in Colombia which will be financed either through a US private placement or a bank financing.

Chile:

  • Advised the sponsors with respect to the financing of a 185MW wind farm in northern Chile.

Peru:

  • Represented Turris Telecom de Peru on the project financing of 298 "build-to-suit" telecommunication towers in Peru, which was extended by CIFI Latam, S.A..

Ecuador:

  • Represented the potential lender on the financing of the Santo Domingo – Buena Fe toll road project in Ecuador.
  • Represented the potential lender on the financing of the Buena Fe – Babahoyo – Jujan toll road project in Ecuador.
  • Advised an Ecuadorian hydroelectric company in respect of the development and construction of a 1,500 MW hydroelectric project in Ecuador valued at approximately US$ 2 billion on a turn-key, lump sum basis.
  • Advised an Ecuadorian electric company in respect of the development and construction of a thermoelectric project in Ecuador.

México:

  • Representing a syndicate of banks on a US$600 million credit facility to be extended to a Mexican national credit institution, which is guaranteed by the Multilateral Investment Guarantee Agency (MIGA).

Panamá:

  • Advised Banco Nacional de Panamá (Banconal) on two credit facilities arranged by Goldman Sachs and Societe Generale – totaling US$510 million – which are guaranteed by the Multilateral Investment Guarantee Agency (MIGA).

Venezuela:

  • Advised a Venezuelan petrochemical company in respect of the development and construction of a 450 kt/y polypropylene plant, integrated with a 455 kt/y propane dehydrogenation plant and the outside battery limits, utilities and infrastructure, in Venezuela valued at approximately US$ 900 million on an alliance reimbursable basis.
  • Advised a Venezuelan petrochemical company in respect of the development and construction of an integrated project for the production of 1.3Mt/y of ethylene and 1.1Mt/y of polyethylene (PE), in Venezuela.
  • Portuguese
  • Spanish