Private Practice Powerlist: US-Mexico 2019
Of Counsel | DLA Piper
Amala Nath
Of Counsel | DLA Piper
12
Project Finance
Columbia, Maryland,
New York
English, Hindi, Marathi, Gujarati, Spanish
Amala Nath has over a decade of experience representing multilateral development banks, export-credit agencies, financial institutions and private equity funds on international debt financings and equity investments. Through the representations of lenders, she works closely with sponsors, developers, technical specialists, and governments to facilitate the development of projects in various sectors including, energy, manufacturing, agribusiness, transportation, infrastructure and microfinance. She has done numerous transactions throughout Latin America and Africa and also works on projects in other emerging markets. Nath was previously seconded on a part-time basis to the legal department of the Overseas Private Investment Corporation (OPIC) where she served as counsel on a portfolio of renewable energy projects for the Global Climate Finance Facility.
Notable cases include advising Inter-American Development Bank on both its financing a subsidiary of Enel Green Power for the purchase of equity interests in a 74 MW wind energy project in Mexico, which was Enel’s first wind farm in Mexico, and on its equity investment in a start-up company to support the development of mobile banking services in Mexico. Nath also advised US Ex-Im Bank on its approx $922m guarantee of a loan from JP Morgan to the United Mexican States to finance the purchase of a fleet of telecommunication satellites and related equipment and services for the MEXSAT regional mobile satellite system. She was also involved in financing for the deployment of the Mexican Government-sponsored Red Compartida public private partnership which is expected to generate an investment in excess of US$7bn over the 20-year life of the concession, and awarded to Altán Redes S.A.P.I. de C.V. for the design, deployment, operation and maintenance of Red Compartida by the Mexican Ministry of Communications and Transportation in 2016.
I have worked on many US-Mexico deals in various sectors, including renewable energy and infrastructure, and have developed a good understanding of the issues that arise in cross-border project and corporate financings. Most of my experience has been advising development finance institutions (such as the Inter-American Development Bank Group) and export credit agencies (such as US Ex-Im Bank) with debt and equity investments and export credit transactions in Mexico.
Most of the transactions with which I am involved have New York law governed financing documents so it is essential to have US legal counsel who have experience drafting and negotiating documents which are enforceable in New York. Also, since counsel in the US are involved in deals in other markets in Latin America, often they are able to pull from their experience and advise clients on trends they are seeing in the region. As with other countries, US hourly rates are usually higher and some prospective clients may try to manage legal costs by using Mexican local counsel to do US legal work, which carries great risk to the client should the documentation fall short.
There will most likely be a continued focus on implementing energy and infrastructure projects throughout the country. However, the election of President López Obrador and fears of political risk and US threats to restrict trade could hinder investment and economic growth in Mexico, and also mean a slow-down in transactions for lawyers.
s with other countries, the use of artificial intelligence and block chain technology in transactions will continue to impact working practices.
Receiving quality service for a reasonable cost continues to be a high priority.
