White & Case Advises TC Energy Corporation on a US$2.3 billion deal to refinance TC Energy’s Mexican natural gas pipelines

Global law firm White & Case LLP has advised TC Energy Corporation in connection with a US$2.3 billion senior term loan and revolving loan financing of its Mexican subsidiary, TC Energía Mexicana, S. de R.L. de C.V., and guaranteed by three of its Mexican affiliates.

There were 15 lenders involved in the deal. The loan proceeds were used to refinance existing intercompany debt, which will facilitate the development and construction of the TGNH Southeast Gateway Pipeline, a US$4.5 billion offshore natural gas pipeline project being developed by TC Energy and Comisión Federal de Electricidad, Mexico’s state-owned electric utility.

TC Energy Corporation is a leading North American energy company that develops and operates energy infrastructure in Canada, the United States and Mexico.

The White & Case team included partners Elena Millerman, Carlos Mainero, Juan Antonio Martín, Yan Ng, Charlie Ofner and Richard Burke, counsel Heidi Schmid, partner of counsel Sylvia Chin, local partners Elizabeth Gonzalez and Juan Carlos Llorens, and associates Jia Ying, R.J. Colwell and Shaanty Rubio Gonzalez.

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