Angeles Femenía
Biography
Overview
Angeles Femenía is an International Law Clerk in the Firm's Energy, Infrastructure, Project, and Asset Finance Practice. Prior to joining White & Case, Angeles was at a top law firm, based in Buenos Aires, Argentina, where she worked as an associate structuring, drafting and negotiating transactional documents for various M&A and project finance transactions involving national and international parties and in relation to several industries, particularly as regards energy and renewable deals.
In addition, she also has experience revising and negotiating offering memoranda, prospectuses, underwriting agreements and related agreements for the issuance of securities in the form of equity and debt, including notes under Rule 144A.
Her experience practicing law in Argentina for more than eight years as well as a Foreign Law Clerk in New York at White & Case provides valuable insight for clients and the Firm regarding projects located in Argentina and other countries throughout Latin America.
Law School
Experience
Angeles has represented:
PEC II and PEC III securitizations
Representation of the leading renewable power generators in Chile in negotiating and closing purchase and sale facilities pursuant to which the generators sold certain receivables created under Law No. 21, 472 of Chile, as amended and supplemented by Law No 21,667. IDB Invest acted as purchaser of record, and the purchase price was financed pursuant to the issuance of certain A/B bonds in an aggregate amount of up to US$1.8 billion and US$2.4 billion in 2023 and 2024, respectively. Goldman Sachs, J.P. Morgan and Itaú BBA acted as joint bookrunners for the transactions. The PEC III transaction was awarded "Deal of the Year – Bond of the Year" by IJGlobal Americas.
Private placement for Rutas del Este road project in Paraguay
Representation of Rutas del Este S.A., a road concessionaire in Paraguay that is wholly owned by Sacyr S.A. and Ocho A S.A. and a newly established trust under the laws of Delaware in connection with an approximately US$10 million 4(a)(2) US private placement of notes by the Issuer. Allianz acted as the sole purchaser of notes. The proceeds will be used to monetize certain payments to be received by the Issuer in connection with rehabilitation and maintenance of the Rutas 2 y 7 road toll road project in Paraguay.
Financing for a portfolio of nine projects under Chile's PMGD
Representation of Akuo PMGD Holding, a Chile-based joint venture between Akuo Energy and Atlantica Infraestructura Sostenible SLU, as sponsors, in a limited recourse project financing for a portfolio of greenfield solar photovoltaic projects in Chile. The transaction consisted on the acquisition and development of a portfolio of nine projects under Chile's PMGD (Pequeños Medios de Generación Distribuida) regime.
Sonnedix acquisition financing
Representation of Sonnedix on a non-recourse mini-perm project financing for a portfolio of greenfield and operating solar photovoltaic projects under Chile's PMGD regime.
Financing for Verano Energy's solar projects in Chile and Colombia
Representation of Lumina Capital, a leading Brazil-based investment manager focused on strategic solutions, as lender, on a US$56 million financing for Verano Energy's solar projects in Chile and Colombia, including credit and equity investments across Latin America.
Etileno XXI polyethylene project
Representation of Braskem Idesa, S.A.P.I., owner and operator of the US$5.2 billion Etileno XXI petrochemical complex in Mexico, on the sale of its 50% interest in Terminal Química Puerto México, S.A.P.I. de C.V., entity that will develop, finance, design, construct and operate an ethane import terminal for the receipt and storage of imported cryogenic ethane to be located in the Pajaritos Lagoon in the State of Veracruz, Mexico. This transaction was named "Project Finance Deal of the Year" by Latin Lawyer and "Americas Petrochemical Deal of the Year" by Project Finance International.
Road project in Paraguay
Rutas del Este S.A., Sacyr Concesiones S.L. and Ocho A S.A. in connection with the financing for tranches (tramos) 1.1, 1.2, 6 and 7, Variante de Oviedo, Ypacaraí Urbano and Variante de Caacupé of the 2 and 7 Road Project in Paraguay. Project costs for this particular section of the road are approximately $300 million and the financing combines a securitization of certain government receivables that vest upon the completion of certain construction milestones and a US private placement of notes under Section 4(a)(2) of the Securities Act of 1933. The Inter-American Development Bank and Inter-American Investment Corporation acted as purchasers.
PMGD portfolio financing in Chile
Solek Chile Holding III SpA, Solek Holding S.E. and Solek Investments SpA in connection with a senior and subordinated loan facility to finance the construction of a portfolio of solar projects in Chile. The projects qualify for Chile's PMG/PMGD program, which allows solar assets meeting certain criteria to receive a stabilized base price. The financing included several unique features, including a subordinated loan tranche and a pre-agreed form of Share Purchase Agreement to be used for the potential acquisition of additional assets to be brought into the portfolio at a later date.
Financing for Chubut Norte III & IV Wind Farms in Argentina
KfW IPEX and KfW in the portfolio project financing of the Chubut Norte III and IV wind farms in Argentina being developed by Genneia and guaranteed by Hermes. Both projects were awarded under Argentina's RenovAr 2.0 renewables program and the financing is supported by 20-year PPAs.
Loan for Necochea Wind Farm in Argentina
FMO and EKF in connection with the US$51 million loan for the construction of the Necochea wind farm being developed by Genneia S.A. in the Buenos Aires Province of Argentina.
