Miguel A. Zaldivar Global Deal List 2 Miguel A. Zaldivar - Global Deal List

Over his 30+ year career, Miguel A. Zaldivar, Jr., RMP for the Asia Pacific Middle East region, has closed a significant number of complex cross-border transactions totaling in excess of US$75 billion across the world. Now based in Hong Kong, he works with cross-office teams in the successful negotiation and execution of deals across various jurisdictions, industries, and disciplines, including project finance, capital markets, mergers & acquisitions, joint ventures, settlement of arbitral disputes and dozens of other corporate, commercial and financing matters.*

Moscow, Russia: Machala Power/Roseximbank $195m Luxembourg City: Metro/EIB New York: $260m Global Bonds $15b Madrid, Spain: Beijing, China: Hospital Financings/CESCE Coca-Codo Hydro/Chexim Houston: Tokyo, Japan: $125m $2b OXY Settlement Metor/JBIC $500m $1.4b Santo Domingo, DR: City: AES Andres PEMEX Ethylene J-V $300m Dubai, UAE: $2b OTI Fuel Financing Guatemala City: $300m Wal-Mart Central America Caracas, : $530m FertiNitro Project $1b Singapore: Quito, Ecuador: PTT Crude Oil Financing EPCE Privatization $2.5b $230m

*The graphic above only shows a few representative transactions. Miguel A. Zaldivar - Global Deal List 3

United States

New York, NY • Advising the Republic of Ecuador • Advising the Republic of Ecuador in closing and the Central of Ecuador in two a complex liability management transaction, structured commodity transactions repurchasing around 78% of its outstanding and standalone loan facilities, which bonds due in 2020 with the proceeds of a new facilitated close to US$1 billion in financing for US$1.125 billion issuance of bonds due 2029. the Republic of Ecuador by Goldman Sachs. The transaction allowed Ecuador to re-profile The first transaction included a standalone its debt maturity and take advantage of greatly US$400 million loan facility and a sale improved market conditions: and repurchase of 465,619 ounces of gold the 2029 bonds were reopened and issued (valued at approximately US$604 million). above par at a yield of 9.05%, significantly After having repaid the first facility, the second below the original coupon of 10.75%. transaction was for a US$500 million three The transaction also resulted in reducing year standalone loan facility, linked to a three outstanding principal by US$50 million, due year gold transaction, involving 300,000 to the difference in market price between ounces of gold valued at approximately the 2020 and 2029 bonds. Prior to closing US$387 million and a bond issuance of this LM transaction, it was necessary to Republic of Ecuador notes and repurchase substitute 2020 bonds delivered as “collateral” relating to US$606 million worth of sovereign in a US$500 million repo transaction with global bonds. Goldman Sachs, and a transfer of a US$100 Offices: Miami, New York, and London million participation in the repo transaction from Goldman Sachs to ICBC Standard. • Advising the Republic of Ecuador Citibank, JP Morgan and in securing its stable return to the global served as financial advisers to the Republic. capital markets. The initial US$2 billion bond Houston, TX Miami, FL Offices: Miami, New York, and London placement was recognized by Latin Finance as • Advising the Republic of Ecuador on • Advising the Central American Bottling its Sovereign Bond Deal of the Year. settlement negotiations with Occidental Company (CabCorp) on settlement We have continued to represent Ecuador in all Petroleum Corporation, resolving the negotiations with Companhia de Bebidas of its global bond insurances since then, raising second-largest ICSID arbitration case in history. das Americas (Ambev), which resolved more than US$15 billion in the global capital The case involved an arbitral award of US$1.8 pending ICC commercial arbitral proceedings markets. Citibank, JP Morgan, Credit billion plus interest issued against Ecuador, for hundreds of millions of US dollars. Suisse and Deutsche Bank served related to the unilateral termination of an oil The case was related to the calculation of as financial advisers to the Republic. production participation agreement. Under the exercise price of a call option by CabCorp Offices: Miami, New York, and London the settlement agreement Ecuador agreed to with respect to the purchase of AmBev’s interest pay Occidental a total of US$980 million plus in Embotelladora Dominicana C. por A. post-award interest in a series of installments, (Embodom) and led to the re-negotiation of thereby obtaining a reduction of US$420 existing joint venture agreements between million. the parties. Offices: Miami and Houston Office: Miami 4 Miguel A. Zaldivar - Global Deal List

Central America

• Advising Empresa Pública de Exploración • Advising the Republic of Ecuador in Central America y Explotación de Hidrocarburos US$500 million repo transaction with Credit • Advising Wal-Mart’s acquisition of a Petroamazonas EP (“Petroamazonas”) Suisse (London Branch), including re-opening controlling equity interest in the leading in the successful restructuring of US$1.5 of US$500 million in sovereign bonds linked to supermarket and hypermarket chain in Central billion in payments owed to contractors for oil the repo transaction. America, CARHCO, originally formed as a joint exploration and production in the Republic Offices: Miami, New York, and London venture with three equal partners: Dutch retailer of Ecuador. The strategic restructuring • Advising the Republic of Ecuador in Royal Ahold, NV and two Central American was completed through execution of debt US$500 million repo transaction with groups: Corporación de Supermercados recognition agreements entered into with Goldman Sachs, including re-opening of Unidos (CSU) and the Paiz family, the major approximately 20 entities, primarily subsidiaries US$500 million in sovereign bonds linked to shareholders of La Fragua. It was the largest of international oil services providers (including the repo transaction. M&A transaction in Central America’s history Schlumberger). As part of the restructuring, at the time, and we worked with outside Central Petroamazonas executed two bond issuances Offices: Miami, New York, and London American counsel from Costa Rica, Guatemala, in the global debt capital markets, with the Washington, D.C. El Salvador, Nicaragua, and Honduras, and local bonds issued backed by a sovereign guarantee counsel in the Netherlands Antilles. of the Republic of Ecuador. The restructuring • Advising the Republic of Ecuador in recognized payment in full by Petroamazonas the course of its negotiations of a program Offices: Miami, New York and Washington D.C. of all of the restructured commercial payment with the International Monetary Fund Guatemala Mexico obligations and opened Petroamazonas’ access (IMF), which included extensive due diligence to the global debt capital markets, marking consultations explaining the public finance • Serving as international counsel to CabCorp, • Advising Pemex Petroquimica in a the first occasion that a state-owned company transactions on which we advised on for over a the largest soft-drink bottling company and competitive selection process to attract foreign of Ecuador has issued debt securities abroad. decade. As a result of this work, IMF extended distributor in Central America headquartered in investors to form a joint venture to develop the Citibank served as financial adviser to Ecuador a fund facility of US$4.2 billion over Guatemala. We advised them in connection in “Fenix” olefin petrochemical complex for the Petroamazonas. 3 years, with other ECAs and multilateral the negotiations of a master bottling agreement production of ethylene and ethylene derivatives, organizations providing an additional US$6 with PepsiCo, DR-CAFTA trade related matters, Offices: Miami, New York, and London including but not limited to, high-density billion of funding. expansion to other markets throughout Latin polyethylene and low-density polyethylene, • Advising Pequiven in connection with Offices: Miami and New York America and the Caribbean and formation polypropylene, styrene and butadiene the successful tender offer and consent of a joint venture company with beer monomers intended to supply the demand of the solicitation whereby it purchased 99% of the • Advising the Republic of Ecuador manufacturer INBEV. Mexican market. This project was cancelled due outstanding 8.29% Secured Bonds due 2020 in the negotiation of a US$50 million dollar Offices: Miami, Mexico City, Washington D.C., to political reasons. issued by FertiNitro Finance Inc. facility to supplement funding already provided London, Madrid and New York Offices: Miami and Washington D.C. in connection with the FertiNitro fertilizer by the Inter-American Development project for US$247.6 million. Citibank served Bank (IDB) for the expansion of the energy • Advising Pemex and Mexico’s Secretary transmission matrix with the Japan Bank as financial adviser to Pequiven. • Preparing bidding rules and model EPC of Energy (SENER) on drafting the for International Cooperation (JBIC), Offices: Miami, New York and Caracas agreements for the construction of Line 1 of new regulation of the PEMEX law to allow Mizuho Bank, Joyo Bank, the Hachijuni participation of the private sector in contracts • Advising the Republic of Ecuador on an Metro de Panama, the new subway system Bank and the Bank of Yokohama. for exploration activities and the amendment to an existing US$100 million developed by our client the Republic of Office: Miami production of oil. credit facility with converting Panama. Office: Miami and local counsel Mexico it to a multi-currency agreement and adding an • Advising Pequiven in the acquisition of a Offices: Miami and London additional 50 million Swiss francs to the total controlling interest in the Aguas Industriales • Representing Pemex Gas y Petroquimica commitment of Credit Suisse. The loan was water project joint venture and settlement of Básica in connection with the development of used to finance Ecuador’s projects relating to a US$250 million arbitral dispute with Earth a project information memorandum, bidding nationwide energy distribution programs. Tech and its parent company Tyco. rules, model supply agreement and other Offices: Miami and New York Offices: Miami, Caracas, Washington D.C. agreements for the construction of an ethylene and London plant with one million tons per year capacity to be built and operated by a joint venture entity formed by Braskem from and Idesa from Mexico. Office: Miami Miguel A. Zaldivar - Global Deal List 5

South America • Advising Universal Compression Inc. • Advising Ecuador’s Ministry of in the development of a joint venture to build, Non-Renewable Natural Resources operate and transfer three gas compression in the development of the model service contract stations on an existing pipeline running for oil exploration and production used as the North-South through central Colombia operated starting point of negotiation with international by Ecogas, the Colombian state-owned gas companies interested in investing in this sector distribution company. in Ecuador. Office: Miami Offices: Miami and Houston Honduras • Advising AES Andrés B.V. in the development • Acting as general counsel to AES Honduras of a 300MW combined-cycle power generation Generación, S. en C. de C.V. facility, liquefied natural gas (“LNG”) storage in the development of a combined-cycle facility and port terminal in the Dominican power project nominally rated at 800MW, an Republic, including extensive negotiations of LNG terminal in Puerto Cortes and 373 km permits, licenses and concession agreements transmission line facilities throughout the north with various Dominican government agencies. part of Honduras, connecting to Guatemala The project was the largest private investment in and El Salvador. Work included successful the Dominican Republic at time of closing. representation in securing all required permits Office: Miami and concessions, as well as an award of 300MW wide power purchase agreement by state-owned Ecuador utility Empresa Nacional de Energía • Counsel to American Airlines, Inc. • Advising Empresa Pública Cementera Eléctrica (ENEE) in a competitive bidding in the design and implementation of a strategy del Ecuador (EPCE), the national cement process. This project was never built due to to minimize the impact of a potential pilot company of Ecuador, on a US$230 million market conditions. strike on its Latin American operation investment contract with Cementos Yura Offices: Miami and Washington D.C. and the implementation of employee benefit S.A. (part of Grupo Gloria in ) transferring plans in Latin America, including Profit control of this state-owned company to the Sharing Plan, Gratification Plan and Phantom private sector and for the construction of a new Stock Award Plan. factory that will produce 2,400 tons of Offices: Miami and Caracas clinker per day. • Implementing the spin-off from American Offices: Miami and Madrid Airlines of the travel reservation business unit • Representing Refinería del Pacífico to form a standalone subsidiary Sabre and, Eloy Alfaro CEM (a joint venture between after that, representation of Sabre PetroEcuador and PDVSA) in the in coordination with local counsel on development and financing of a US$10 billion the establishment of branches or subsidiaries oil refining complex in Manta, Ecuador. Due of Sabre with legal standing distinct from to political reasons development of this project American Airlines throughout Latin is suspended, but our involvement with this America. This effort was a 10+ year ongoing project lasted over eight years and provided us representation that required coordination with extensive experience and connections in the of labor, corporate and regulatory services oil refining industry. in the following jurisdictions: , Offices: Miami, Houston, Washington D.C., Brazil, , Colombia, Costa Rica, Ecuador, New York and Beijing El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Uruguay and Venezuela. Offices: Miami and Caracas 6 Miguel A. Zaldivar - Global Deal List

China

Venezuela • Advising the Republic of Ecuador in • Representing the Republic of Ecuador connection with a US$900 million unsecured in the negotiation of four lines of credit for • Counsel to Pequiven in the FertiNitro project, • Counsel to Pequiven (Aguas Industriales de sovereign debt facility provided by China a total value of approximately US$7 billion a joint venture with Koch Industries, Inc., Jose, S.A., as lead counsel) in the negotiations Development Bank (CDB) to Ecuador. with China Development Bank (CDB) for Snamprogetti, S.p.A. and Empresas of a US$120 million joint venture project The funds are used for development of the development of infrastructure projects in Polar, to build, finance and operate with Earth Tech for the development of an programs and investment projects supported the country, linked with crude oil and fuel oil a US$1 billion fertilizer complex in Venezuela. industrial water treatment and distribution by crude oil sales under existing contracts to supply agreements executed with Chinese oil FertiNitro successfully raised US$810 million system in the State of Anzoátegui, Venezuela, Chinese oil companies PetroChina state-owned companies PetroChina in financing in U.S. 144A bond and syndicated to supply the requirements of the oil, gas and and Unipec (a subsidiary of Sinopec). and Unipec (a subsidiary of Sinopec). bank markets to construct the facility, which petrochemical projects located in the eastern The signing of the facility agreement was the Offices: Miami, Beijing, Washington D.C. consists of two ammonia and two urea plants part of Venezuela. keynote of the first State visit by President and New York and was awareded Project Finance Deal of Office: Miami Lenin Moreno to China to meet with his the Year. Following the closing of the project • Representing Empresa Pública de • Counsel to Pequiven in developing and counterpart, President Xi Jinping, financing, we served as project counsel for over Hidrocarburos del Ecuador EP structuring Polyvinyl Chloride (PVC) plant in December 2018. a decade in connection with a variety of issues, PetroEcuador in the negotiation of various in the western part of Venezuela. The Offices: Miami, Hong Kong and Beijing including negotiation with commercial lenders stand-alone crude oil and fuel oil supply representation involved the design and of additional capitalization agreement • Representing Empresa Nacional de agreements with PetroChina and Unipec implementation of creative structuring of and support in extensive briefing sessions Energía Eléctrica (ENEE), the state-owned (a subsidiary of Sinopec), in which Chinese investment to accommodate alternative with rating agencies Fitch, Moody’s energy holding company of Honduras, offtakers granted prepayments of in excess of means of investment financing and equity and Standard & Poor’s. in the development and financing of the 104 US$5 billion of the price to be repaid with participation in compliance with Venezuelan MW Patuca III hydroelectric generation project the timely delivery of the commodity during Offices: Miami, Caracas and New York privatization law. to be built by Chinese company Sinohydro the term of the respective agreements. • Advising Sabre in settlement negotiations Offices: Miami and Caracas Corporation Limited and financed by a US$298 Offices: Miami and Beijing with Venezuelan Antitrust Agency • Counsel to C.V.G. Bauxilum, S.A., a million credit facility extended by Industrial (Procompetencia) that enabled Sabre • Advising PetroEcuador and the Republic Venezuelan state-owned company, in the joint and Commercial Limited to continue operations in Venezuela after of Ecuador on the successful negotiation of development and financing with Pechiney for (ICBC), and backed by a sovereign guarantee an unfavorable ruling in an antitrust case a US$970 million credit facility with the expansion of an alumina refinery to from the Republic of Honduras. The project brought by Venezuelan travel agencies (Over a consortium of , led by Industrial a capacity of more than two million tons and is the largest infrastructure project in Group) declared null and void all subscriber and Commercial Bank of China Limited its bauxite mine located in Bolivar State, the history of Honduras, requires Presidential agreements required to operate in that country. (ICBC), The Export-Import Bank of Venezuela for a total investment of over and Congressional approval, and was a At the time this was the first instance that China and China Minsheng Banking US$260 million. landmark investment by a Chinese bank in Procompetencia agreed to enter into Corp., Ltd. The credit facility is linked Office: Miami a country without diplomatic relations with a settlement agreement. to a five-year crude oil sale and purchase China. Offices: Miami and Beijing Offices: Miami, Caracas contract with PetroChina. • Representing the Republic of Ecuador, Offices: Miami and Beijing • Counsel to Pequiven in the development in securing a US$1.7 billion loan from of a multi-billion dollar joint venture with The Export-Import Bank of China, ExxonMobil to build and operate an at the time the largest sovereign commercial olefin complex in Jose, State of Anzoátegui, loan to Ecuador, to finance the development Venezuela. This project contemplated the of the 1,500 MW Coca-Codo Sinclair construction of an ethane cracker, gas phase hydroelectric project, the largest infrastructure low pressure polyethylene plants, high pressure project in the country’s history. low density polyethylene plants and ethylene Offices: Miami, Washington D.C. and Beijing glycol plants. This project was cancelled due to political reasons, but our involvement with this representation lasted over seven years and provided us with extensive experience in the olefins industry. Offices: Miami and Caracas and Washington D.C. Miguel A. Zaldivar - Global Deal List 7

• Advising the Republic of Ecuador in • Advising the Republic of Ecuador in the execution of a RMB500 million the successful negotiation of an approximately concessional loan agreement, granted US$103 million preferential credit facility with The Export-Import Bank of China to The Export-Import Bank of China for finance the extension of the Simon Bolivar the construction of two aqueducts in the Santa Highway, connecting the country’s capital city Helena hydraulic plan to be developed by of Quito to the Mariscal Sucre International Ecuador’s National Water Company. Airport. Offices: Miami and Beijing Offices: Miami and Beijing • Advising the Republic of Ecuador in the • Representing the Republic of Ecuador execution of a US$198 million preferential loan in connection with its US$299 million credit agreement, granting The Export-Import facility from Bank of China Limited and Bank of China to finance the development of Deutsche Bank (China) Co., Ltd. for phase 1 of the Yachay city of technology the development of the Cañar Naranjal innovation in Ecuador. flood control project. Offices: Miami and Beijing Offices: Miami and Beijing • Representing the Republic of Ecuador • Representing the Republic of Ecuador in in connection with its US$167 million credit connection with a US$312 million credit facility facility from Bank of China Limited and from Bank of China Limited and Deutsche Deutsche Bank (China) Co., Ltd. for Bank AG, Hong Kong branch, for the construction of the Millennium Schools the construction of 10 highways in Ecuador, educational system throughout the country. and a subsequent US$86 million credit facility Offices: Miami and Beijing • Representing Banco del Desarrollo del • Advising the Republic of Ecuador in from the same lenders for the construction of Ecuador, B.P. (BDE), a state-owned the negotiation of a US$312 million facility three additional highways. development bank of the Republic of Ecuador, agreement between The Export-Import Offices: Miami and Beijing in a US$200 million interbank loan from Bank of China and the Ministry of Finance China Development Bank (CDB) for of Ecuador to finance the construction of the the development of a wide variety of projects 270 MW Mina-San Francisco of state-owned companies, and provincial, hydroelectric project. municipal and decentralized autonomous Offices: Miami and Beijing governments throughout Ecuador. • Advising the Republic of Ecuador in the Offices: Miami, Hong Kong and Beijing successful negotiation of a US$509 million • Advising the Republic of Ecuador on the credit facility with The Export-Import negotiation and closing of an approximately Bank of China for the construction of 500 kV RMB485 million concessional loan facility electric transmission line network and related with The Export-Import Bank of China subsystems which enable the interconnection for financing projects, including roads, bridges of the Coca-Codo, Paute-Sopladora and and a new airport terminal near Manta, which Mina-San Francisco hydro projects to the was devastated by a major earthquake in 2016. national grid. Offices: Miami and Beijing Offices: Miami and Beijing • Representing the Republic of Ecuador, through the Ministry of Finance, in the closing of a US$571 million credit loan agreement with The Export-Import Bank of China to build the 487 MW Paute-Sopladora hydroelectric project. Offices: Miami and Beijing 8 Miguel A. Zaldivar - Global Deal List

Rest of Asia Middle East

Hong Kong • Advising PetroEcuador in the closing of a US$1 billion credit line provided by a Hong Kong-based Noble Group subsidiary. The credit line is linked to a long term agreement to purchase significant volumes of diesel and high-octane naphtha to satisfy domestic demand in Ecuador, through a finance structure that enabled the lender to re-pack its loan obligations via placement of bonds in the global capital markets. Offices: Miami, Hong Kong, Houston, New York and London Japan • Counseling Metanol de Oriente, Metor, • Advising the Republic of Ecuador in the S.A. (a joint venture between Pequiven, negotiation of a US$600 million finance facility Mitsubishi Gas Chemical Company, arranged by MUFG Bank, Ltd. from Japan Inc. and Mitsubishi Corporation) in with credit support from Nippon Export the development of a new 850,000 MT per and Investment Insurance () and annum methanol production plant (Project linked to a crude oil off-take agreement to be Deal of the Year). This project contemplates entered into by Mitsubishi Corporation and a total investment of approximately US$500 PetroEcuador (ongoing). million and was financed by Japan’s export Offices: Miami and Hong Kong credit agency Japan Bank of International Corporation (JBIC), multilateral lender South East Asia International Finance Corporation (IFC) • Advising PetroEcuador on the execution and commercial lenders from Japan, including of an unsecured long-term crude oil supply Bank of Tokyo-Mitsubishi (BTMU). agreement with PTT International Trading, Offices: Miami, Caracas and New York the Singapore based trading subsidiary of PetroThailand (PTT). The contract provides • Advising the Republic of Ecuador in for the sale of 116 million barrels of crude oil • Advising PetroEcuador on the execution Acquisition of Property Agreement, the “Ijara the negotiation of a US$16 million dollar and the advanced payment by PetroThailand of a mid-term fuel oil supply agreement with Agreement”, the “Purchase Undertaking”, and facility agreement with the Japan Bank for of US$2.5 billion of the commodity price in Oman’s state-owned Oman Trading Oil the Servicing Agreement between the Republic International Cooperation (JBIC) and several tranches. (OTI) that contemplates a lump-sum advance and the Issuer SPV. Due to market conditions Citibank Japan Ltd. as co-lender to upgrade payment of US$300 million secured by the the deal never closed. its systems and equipment owned by RTV Offices: Miami and Singapore Republic of Ecuador. This supply agreement Offices: Miami, New York and Dubai Ecuador, the state-owned television and radio • Advising PetroEcuador on the execution of was the first time Oman signed such an network. With this transaction, Ecuador • Supporting the Republic of Ecuador in the a long-term crude oil supply agreement with agreement with a Latin American re-gained access to export-credit financing execution of an Agreement to Avoid Double PTT International Trading, the Singapore counter-party. in Japan. based trading subsidiary of PetroThailand Taxation between Ecuador and the United Offices: Miami, Houston and Dubai Office: Miami (PTT) which contemplated a lump-sum Arab Emirates (UAE). commodity price advance payment of US$600 • Advising PetroEcuador and the Republic Offices: Miami and Dubai million secured by the Republic of the of Ecuador in developing a Sukuk al-ijara Ecuador. bond structure with Qatar National Bank, Offices: Miami, Houston and Singapore in compliance with both Ecuadorian law and the basic Shari’a principles, including the Miguel A. Zaldivar - Global Deal List 9

Europe

Spain Russia • Advising the Republic of Ecuador acting • Advising the Pichincha Province, as as a guarantor to support the obligations of borrower, and the Republic of Ecuador, as the Instituto Ecuatoriano de Seguridad sovereign guarantor, in the US$123.2 million Social (IESS) Ecuadorian social security financing of the Toachi-Pilaton hydroelectric and health provider with Deutsche Bank - generation project arranged by Eximbank Spain totaling US$78.3 million for the partial of Russia (Roseximbank) including as financing of the construction and equipment of original co-lenders in the syndicate: the two hospitals in Guayaquil and Machala. The Russian Commercial Bank (Cyprus) two loans were structured through an eight-year Ltd., the State Corporation Bank for door-to-door buyer credit from Spain’s export Development and Foreign Economic credit agency, CESCE. Deutsche Bank acted as Affairs (Vnesheconombank), Gazprombank mandated lead arranger (MLA) and lender with (Open Joint-Stock Russian Company) and France Luxembourg Société Générale Sucursal en España, Gazprombank (Switzerland) Ltd. • Advising the Republic of Ecuador • Advising the Republic of Ecuador in , BBVA and Banco Offices: Miami and Moscow in the negotiation of a US$127 million the negotiation of a €100 million facility Popular as MLAs and lenders. • Advising Corporación Eléctrica del financing protocol executed by the Minister agreement with the European Investment Offices: Miami and Madrid Ecuador (CELEC), as borrower, and of Foreign Trade of France represented by Bank (EIB) to finance the construction and • Advising the Republic of Ecuador acting the Republic of Ecuador, as sovereign Natixis. Under the protocol, the government refurbishment of government buildings that as a guarantor to support the obligations of guarantor, in the US$195 million financing of of France financed the construction of an urban house the national government’s social services the Instituto Ecuatoriano de Seguridad the Termogas-Machala combined cycle 187Mw light rail transportation project in the city of agencies as well as the main offices of strategic Social (IESS) Ecuadorian social security and project to be built by Inter RAO UES arranged Cuenca in southern Ecuador. state-owned enterprises. health provider with Deutsche Bank - Spain by Eximbank of Russia (Roseximbank) Offices: Miami and Paris Offices: Miami and Paris totaling US$47 million for the partial financing including as original co-lenders in the • Advising the Republic of Ecuador • Advising the Republic of Ecuador in the of the construction and equipment of a hospital syndicate: the State Corporation Bank in US$49 million of financing by BNP execution of an approximately US$260 million in Quito. The loan was structured through a for Development and Foreign Economic Paribas and Société Générale for loan facility with the European Investment door-to-door buyer credit from Spain’s export Affairs (Vnesheconombank) and the purchase of a Falcon 7X presidential Bank (EIB) to finance construction of a credit agency, CESCE. Deutsche Bank acted as Gazprombank (Open Joint-Stock Russian airplane. Metro system for the capital city Quito. Also mandated lead arranger (MLA) and lender with Company). Offices: Miami and Paris represented the state-owned Empresa Pública Société Générale Sucursal en España, Offices: Miami and Moscow Municipal Metro de Quito in the negotiation Banco Santander, BBVA and Banco Italy and execution of the model EPC agreement for Popular as MLAs and two additional Spanish • Advising FertiNitro on settlement this project. banks as lenders. negotiations with Snamprogetti resolving Offices: Miami and Paris Offices: Miami and Madrid pending ICC commercial arbitral proceedings • Advising the Republic of Ecuador in the for hundreds of millions of US dollars related execution of a US$175 million loan facility with to damages resulting from breaches of EPC the European Investment Bank (EIB) to contract and defects in the construction finance infrastructure reconstruction projects of a nitrogen fertilizer complex located in to mitigate the effects of the 2016 earthquake. Venezuela. Office: Miami Offices: Miami and local counsel • Advising the Republic of Ecuador in the execution of an approximately US$75 million loan facility with the European Investment Bank (EIB) to provide funding for the development of technology programs in Ecuador. Office: Miami