Sylvia Cherem represents lenders and borrowers in syndicated, secured and unsecured, traditional and debt financings, corporate finance transactions, cross-border facilities and Chapter 11 restructuring financings, with a particular focus on the representation of large international and domestic banks in connection with complex multijurisdictional syndicated credit facilities to exploration and production companies, midstream companies and oil field services companies. Sylvia’s experience includes advising financial institutions, developers and equity investors domestically and internationally on project structuring, acquisitions and sales, as well as operation and maintenance of infrastructure and renewable power projects.
Mrs. Cherem has represented major oil and gas companies and the Mexican government in energy-related matters, including mergers and acquisitions, tax planning, and domestic and cross-border investments in the Mexican upstream and midstream sectors. Sylvia played an integral role in the biddings and regulatory compliance involving Mexico’s upstream sector. She advised international oil companies in connection with the legal and tax aspects of exploration and production contracts in Mexico’s upstream exploration and production Round 1 and Round 2 bids.
Sylvia’s pro bono practice focuses on immigration matters.
Recent Notable Matters
Wells Fargo Bank, National Association — as lender, administrative agent and collateral agent in the successfully completed exit financing for Diamond Offshore Drilling, Inc. and certain affiliates. The exit financing included approximately $400 million in a revolving credit facility, $100 million in a term loan and over $85 million in privately placed notes.
Crédit Agricole Corporate and Investment Bank — as agent to the lenders in the $2.44 billion letter of credit facility and approximately $544 million in funded debt for McDermott International, Ltd in the successfully completed emergence from bankruptcy
Crédit Agricole — $2.8 billion financing facility in prepackaged Chapter 11 restructuring transaction for McDermott International, as agent to revolving debtor-in-possession (DIP) lenders
Crédit Agricole — $1.7 billion new financing for McDermott International which includes immediate access to $650 million of financing comprised of $550 million under a term loan credit facility and $100 million under a letter of credit facility, as lead arranger and revolving administrative agent
Compañía Española de Financiación del Desarrollo (COFIDES) — term loan financing for a leading hospitality group in connection with expansion of its brand in the United States
Algonquin Power — long-term back-leverage equity financing to a subsidiary of Abengoa that holds an interest in the Vista Ridge water project under development in San Antonio, Texas, the largest P3 water project in North America
Eni S.p.A. — assist with the bidding process for the international public tender made by the government of Argentina for the granting of offshore oil exploration and extraction licenses
Crédit Agricole — credit facility for McDermott International, Inc. secured by several Mexican entities
Mexican Federal Energy Regulatory Commission (CRE) — advice regarding pipelines, infrastructure, open access in transportation and storage of oil products*
Unifin Financiera, S.A.B. de C.V. and SOFOM, E.N.R. — due diligence for the acquisition of a vessel, as well as analysis of the vessel’s compliance with navigation permits, insurance requirements and Mexican law*
Artha Capital S. de R.L. — due diligence for the acquisition of natural gas compression and decompression plants, including analysis of the plants’ compliance with Mexican legal requirements under their operating permits and environmental impact assessment*
Mexico’s Ministry of Energy — drafted documents for Mexico’s registration on the Extractive Industries Transparency Initiative (EITI), widely regarded as the global standard for the good governance of oil, gas and mineral resources*
Independent oil and gas company — legal and tax framework for the only exploration and production company to win adjudication of field’s in Mexico’s oil and gas offshore reserves, could operate*
* Work completed prior to Bracewell