White & Case Honored Twice at LatinFinance Projects and Infrastructure Finance Awards
At its Projects and Infrastructure Finance Awards 2017, LatinFinance magazine twice honored a transaction on which White & Case advised, naming the transaction both "Best Loan" and "Best Infrastructure Financing: Mexico."
In the winning transaction, White & Case represented the members of the consortium that incorporated Altán Redes, S.A.P.I. de C.V., the first Mexican wholesale shared mobile network, in the implementation of agreements required for the design, installation, operation, maintenance and commercialization of a nationwide 700 MHz LTE wholesale shared network, and for the exploitation of two optical fiber strands assigned by the Federal Power Commission (Comisión Federal de Electricidad), in a manner consistent with the financing agreements negotiated by Altán with Mexican development banks and Nokia and Huawei as financing vendors.
These agreements include engineering, procurement and construction (EPC) agreements with Nokia and Huawei as Altán's primary providers for the construction of the network, an industrial partnership agreement with both Axtel and Mega Cable (two of the most prominent Telecom companies in Latin America), master lease agreements with various tower companies enabling Altán to build and deploy its wholesale shared network, as well as the corporate arrangements to comply with financing requirements and beginning of its operations consistent with applicable regulatory and antitrust restrictions. All these arrangements were critical to enabling Altán to comply with its contractual obligations under a public-private partnership agreement with the Mexican government to ensure a 30 percent coverage of the Mexican population during the first quarter of 2018.
The Altán project is considered the most important telecommunications project of its type in the history of Mexico, and is expected to transform the market with a mobile 4G network ultimately covering more than 90 percent of Mexico's population.
LatinFinance bestows annual awards to recognize the most outstanding institutions and transactions contributing to economic progress in Latin America. The winners are chosen by the magazine's editorial team after an extensive selection process that involves the review and analysis of information and proposals provided by the participants.