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, Chile, 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

Project finance:

  • Representing the potential lender on the financing of the Santo Domingo — Buena Fe toll road project in Ecuador.
  • 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.
  • Representing the project sponsor in connection with the project financing for the construction of a transmission line in Colombia.
  • Advised the sponsor on a financing of a motorway 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.
  • Advised the sponsors with respect to the financing of a 185MW wind farm in northern Chile.
  • 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.


Corporate and structured finance:

  • 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 a commercial bank in connection with a US$25 million credit facility extended to a Brazilian ethanol company.
  • Advised a commercial bank in connection with a US$156 million credit facility extended to a Brazilian energy transmission company.
  • Advised a commercial bank in connection with a US$52.2 million credit facility extended to a Brazilian travel agency company.
  • Advised a commercial bank in connection with a US$180 million facility extended to a Cayman Island investment bank.
  • Advised a commercial bank in connection with a US$70 million facility extended to an investment bank, which is backed with security over units issued by Brazilian financial institution.
  • Acted for a Brazilian bank as borrower in connection with a US$300 million credit facility extended by a syndicate of commercial banks.
  • Advised a Brazilian financial institution on a bilateral loan of US$130 million to the holding company of a Portuguese conglomerate of dozens of companies that explore and distribute natural gas, petroleum and renewable energies.
  • Advised a Brazilian financial institution in a US$25 million facility extended to an energy company.
  • Advised a Brazilian financial institution in connection with a US$25 million facility to an affiliate of a leading Chilean commercial bank, which is backed with security over shares in such bank.
  • 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 commercial bank in connection with a US$50 million revolving credit facility for a Brazilian petrochemical company.
  • Advised a Brazilian steel producer in a US$750 million Senior Revolving Credit Agreement with a syndicate of commercial banks.


Acquisition finance:

  • 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 Brazilian financial institution in connection with a US$300 million standby facility for a Brazilian cement company's tender offer to acquire a Portuguese cement company.
  • Advised a commercial bank in connection with a US$370 million backstop facility for a Brazilian cement company's tender offer to acquire a Portuguese cement company.


Trade finance:

  • Advised the lender in connection with three pre-export credit facilities extended to a major mining company in Brazil.
  • Advised a commercial bank in connection with a US$40 million export prepayment facility extended to a Brazilian agribusiness company.
  • Advised a commercial bank in connection with a pre-export credit facility extended to a Brazilian food company.
  • Advised a commercial bank on an export prepayment facility in the amount of US$10 million for a Brazilian agribusiness company.
  • Advised a Brazilian agribusiness company on a US$28 million export prepayment agreement with Brazilian financial institutions.
  • Advised an electronic company in connection with a R$200 million facility extended by a commercial bank.
  • 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.


Sovereign loans:

  • 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.


Projects:

  • Advised a Brazilian company with respect to 21 EPC contracts for the construction of drilling rigs with a value of approx. US$850 million each.
  • Advised a major mining company in respect of the construction of an integrated steel production facility in Brazil for the manufacture and production of steel slabs with a capacity of 3Mt/y.
  • Advised a major mining company in respect of the development and construction of an iron ore mine with a capacity of 30Mt/y in Guinea, including the railway and port infrastructure required to export the iron ore through Liberia.
  • Advised an Ecuadorian hydroelectric company in respect of the development and construction of a 1,500 MW hydroelectric project in Ecuador valued at approximately US$ 2 billion on a turn-key, lump sum basis.
  • Advised 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