2024 Regional Roundtable Update: Texas-USA
2024 Texas-USA Regional Update
Firm Name: Hunton Andrews Kurth LLP
Author: Jane Hopwood
1. How is the political environment impacting business in or with your country?
Given that this is an election year, we are currently seeing the normal disruptions caused by the political cycle. Traditionally, election years have an effect on business, and this year is no excep ion. As we get closer to the election, we expect less activity on the regulatory side and in the capital markets.
2. Which countries have you previously collaborated with and do you see potential for future collaboration with on cross-border matters within the region?
Chile: Recently advised a consortium of lenders in the project financing for constructing and operating a reverse osmosis desalination plant and water supply system in Northern Chile. The project will mitigate Chile’s ongoing water supply issues by supplying water to the mining operations of Chilean state-owned mining company Corporación Nacional del Cobre de Chile (Codelco).
Argentina: We are hopeful that the reform bill currently before Argentina’s Senate will create opportunities for work in the country.
Colombia: Recently advised the International Finance Corporation concerning BBVA Colombia’s issuance of a blue bond, the first in Colombia. The first tranche, $50 million, will support initiatives to protect the country's water resources.
Brazil: We are seeing a continued uptick in transactions in Brazil, with a particular focus on the energy and infrastructure sectors.
3. What legislation has recently changed or is changing that a potential international client should be aware of?
Corporate Transparency Act: The US government now requires information from private entities on who beneficial owners are, subject to certain exceptions. If investing in the US, there may be additional
requirements; if applicable, the company will need to provide additional information. The reporting requirements are very broad and far-reaching and many questions about how to apply the rules in practice are not answered, leaving room for noncompliance which, in turn, could result in civil and criminal penalties.
SEC’s Standardization of Climate-Related Disclosures for Investors: require most public companies and foreign private issuers to disclose climate-related information in registration statements and reports filed by the SEC. The final rules aim to provide investors with consistent, comparable, and reliable information about the financial effects of climate-related risks on a company’s business and how the company manages those risks. At their core, the final rules impose new qualitative and quantitative climate-related disclosure requirements on most public companies and foreign private issuers. Under the final rules, the new regime will require these companies to devote significant resources to establish (or enhance) internal control systems and disclosure control procedures to collect and report climate-related information.