Adam Brenneman

Milbank LLP recently hosted a roundtable discussion with Governor Samuel García of the State of Nuevo León in conjunction with the US Mexico Chamber of Commerce. The panel also included: Emmanuel Loo, Deputy Ministry of Investment, Innovation and Artificial Intelligence of Nuevo León Marcos Bucio, Consul General of Mexico in New York Alejandro Ramos, Executive Director NE Chapter & SVP, US Mexico Chamber of Commerce Enrique Perez-Grovas, Northeast Chapter President, US Mexico Chamber of Commerce Adam Brenneman, Corporate Finance and Securities Partner, Milbank The discussion focused on business and investment opportunities in Nuevo León. Strategically located and seamlessly connected to the US, Nuevo León has one of the most efficient logistics border crossings. The state is also home to more than 4,500 foreign companies across diverse industries, including automotive, IT and software, data centers, home appliances, food, machinery and equipment, steel and aluminum and logistics. Nuevo León contributes more than 30% to Mexico’s economic growth, while representing only 4.5% of the country’s population. With market-leading practices in Corporate/M&A, Finance, Capital Markets, Project Finance, Digital Infrastructure, Financial Restructuring, Real Estate, Alternative Investments and Litigation & Arbitration, Milbank has a long history of representing companies and investors in Mexico. To learn more about Milbank’s Latin America practice, please click here.

Feb 9

1 min

Milbank LLP advised Corporación Nacional del Cobre de Chile (“Codelco”), a Chilean state-owned copper mining company, in connection with a $600 million credit facility guaranteed by the Multilateral Investment Guarantee Agency (“MIGA”). This transaction allows Codelco to receive from MIGA a refund for prepayments of the loan under the credit agreement. The proceeds of the transaction will be used to support Codelco’s mission to transition to a 100 percent renewable energy mix by 2030. The Milbank deal team was led by Corporate Finance and Securities partner Adam Brenneman with special counsel Gonzalo Guitart and associate Simone Arthur.

Jan 30

1 min

Milbank LLP advised Fintech Telecom LLC, an affiliate of Fintech Advisory Inc., as the selling shareholder in connection with a registered follow‑on equity offering of American Depositary Receipts of Telecom Argentina S.A. (“Telecom”), one of Latin America’s largest providers of telecommunications, cable television and data transmission services. This transaction represents the first equity offering of Telecom Argentina securities since 2000, and the largest telecommunications equity transaction in Latin America since 2021. The transaction is the first registered offering of securities of an Argentine issuer in 2026, and the first since Milbank advised the underwriters in Adecoagro’s equity offering which reopened the markets for SEC-registered Argentine equity. The deal was executed through an accelerated bookbuilding process. Morgan Stanley and BTG acted as global coordinators. The Milbank deal team was led by Corporate Finance and Securities partner Adam Brenneman with associates Isobel Smith and Daniel Perez‑Kowalski.

Feb 13

1 min

Milbank LLP advised FIBRAeMX, as issuer, in connection with its follow-on equity offering of 199.7 million trust units (Energy and Infrastructure Investment Trust Certificates or CBFEs) for Ps. 6.4 billion (approximately US$351 million) considering the over-allotment option. The global offering of CBFEs included a public offering in Mexico and a concurrent international offering pursuant to Rule 144A and Reg S under the Securities Act. FIBRAeMX is a leading Mexican infrastructure and energy investment trust (FIBRA-E) focused on brownfield transportation infrastructure assets in Mexico. The Milbank deal team was led by Corporate Finance and Securities partners Carlos Albarracín and Adam Brenneman with associates Fernando Quezada and Pamela Molina and international attorneys Romina Grebe and Hector Avila Martinez.

Feb 18

1 min

Milbank LLP advised Tract Capital, a leading alternative asset manager focused on building companies that enable rapid scaling of digital infrastructure, and its portfolio company Fleet Data Centers, a developer and operator of mega-scale, single-user data center campuses, in connection with the closing of an upsized $3.8 billion offering of secured notes by its wholly-owned subsidiary. The offering was completed through a private placement to qualified institutional buyers pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act. The proceeds from the notes will be used to finance a portion of the development and construction of a 230 MW utility capacity (200 MW critical IT capacity) turnkey hyperscale data center and electrical substation on a 252-acre site in Storey County, Nevada. The facility is fully leased under a long-term triple-net lease to an investment grade-rated hyperscale tenant. The transaction represents the largest digital infrastructure high-yield note offering to date and underscores continued capital markets demand for AI-driven data center assets supported by long-term contracted cash flows. “This transaction reflects the increasing convergence of capital markets and large-scale digital infrastructure development,” said Corporate Finance and Securities partner and practice group leader Jonathon Jackson. “Investors continue to show strong appetite for well-structured, asset-backed financings tied to hyperscale capacity, and this deal demonstrates how sophisticated capital solutions are evolving to meet the scale and speed of AI-driven infrastructure buildouts.” The Milbank team was led by Mr. Jackson and included Real Estate partner Alex Meirowitz, Global Project, Energy and Infrastructure Finance chair Dan Bartfeld and partner Jaime Ramirez and Corporate Finance and Securities partner Adam Brenneman. The team also included Corporate Finance and Securities associates Moses Farzan Nekou, Isobel Smith and Nishkarsh Jakhar and law clerk Justin Song, along with Global Project, Energy and Infrastructure Finance associate James Lim. This offering marks another significant milestone for Milbank’s Digital Infrastructure Practice Group, the leading legal advisor across the full digital infrastructure value chain — from GPU procurement to powered land, data centers, M&A and capital raises throughout the capital stack. In 2025, the firm advised on more than $150 billion in digital‑focused transactions, including several of the largest capital markets, project finance, real estate and M&A matters in the sector. Milbank’s cross‑practice team continues to play a central role in major next‑generation AI infrastructure developments.

Feb 26

2 min

Milbank LLP advised the lenders in connection with Atlas Renewable Energy’s landmark $3 billion refinancing of its renewable energy portfolio across Latin America, the largest ever private financing for non-conventional renewable energy in Latin America. The transaction, executed with the support of Atlas’s sponsor Global Infrastructure Partners and a consortium of leading financial institutions, represents one of the largest renewable portfolio refinancings in the region. The refinancing will allow Atlas to optimize its capital structure, unlock competitive financing costs across its regional portfolio and provide a long-term runway for continued growth in clean energy infrastructure. The transaction covers a portfolio of high-performing solar and storage assets located in Chile, Brazil and Mexico. The Milbank team was led by Global Project, Energy and Infrastructure Finance Group chair Daniel Bartfeld and partner Sean O’Neill and Corporate Finance and Securities partner Adam Brenneman. The team also included Global Project, Energy and Infrastructure Finance associates Ana Bueno, Natália d'Avila, Jacob Fusek and Manuela Bins; and Corporate Finance and Securities special counsel Andres Osornio Ocaranza and associates Mauricio Nieto Jaramillo and Kendall Langs.

Feb 25

1 min