Chicago, February 14, 2008 – LAWFUEL – Law Firm Newswire – Project Finance Magazine, a Euromoney publication, in its February 2008 issue has selected the recent bond refinancing by the Panama Canal Railway Company (PCRC) as its “2008 Latin American Refinancing Deal of the Year.”
Baker & McKenzie represented PCRC, a joint venture company owned in equal proportions by affiliates of Mi-Jack Products, Inc. and Kansas City Southern, in completing an offering of $100 million of 7% Senior Secured Notes due November 2026.
The Notes were issued and sold by PCRC to Morgan Stanley & Co. Incorporated as the initial purchaser and were then resold by Morgan Stanley to qualified institutional buyers. The Firm acted as the issuer’s U.S. counsel. The deal closed on November 2, 2007.
The Baker & McKenzie team included finance Partner Jerome W. Jakubik, compensation Partner Maura Ann McBreen and international / commercial associate Carmela Hernandez, all from the Firm’s Chicago office.