The Firm has acted as lenders’ counsel in the most sophisticated limited-recourse and non-recourse project finance transactions, designing complex security packages covering different kinds of assets such as pipelines, equipment, public services concessions, satellites, telecommunication licenses, receivables, oil and gas exploitation and transportation concessions.
In 2014, Bruchou advised Banco Macro, SBS Trading Macro Securities and Banco de Servicios y Transacciones in a hybrid project finance worth US$ 26 million to upgrade a thermal power plant in the province of Santiago del Estero of a subsidiary of Argentine energy investment platform Grupo Albanesi.
In 2017, Bruchou advised Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Export Development Canada, as arrangers, in the secured financing from international banks to two affiliated companies of YPF S.A. and General Electric (GE) for the construction, operation and maintenance of two fast power thermoelectric power plants for an amount of US$ 219.5 million. The loan proceeds will be used to finance the construction and operation of two thermoelectric power plants (fast power) with a capacity of 267MW in “El Bracho”, province of Tucumán, and 107MW in “Loma Campana”, province of Neuquén. This is the first limited recourse project financing in over a decade.
In 2018, Bruchou advised to International financial entities as mandated lead arrangers and lenders, in a secured financing to GE EFS Power Investments B.V. (controlled by GE Energy Financial Servicies, Inc.) for the subscription and partial payment of subscription price of capital stock of YPF Energía Eléctrica S.A. equivalent to 24,99%.