A subsidiary of First Reserve acquired an ultra-low sulfur gasoline facility from the Mexican state-owned petroleum company’s Francisco I. Madero refinery in Madero, Tamaulipas, Mexico.
The subsidiary, Madero Reserve, will lease it back to the state-owned Petroleos Mexicanos, known as Pemex, for an undisclosed amount. Jones Day advised a group of lenders that provided $607 million in financing to Madero Reserve. The financing, which closed Friday, was provided by a group of lenders that included Banobras, Banco Santander, Banamex, Natixis, Bank of Tokyo-Mitsubishi and Intesa Sanpaolo. Jones Day did not release the term of the financing nor the total cost of the sale.
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