The firm advised a multinational insurance company in the acquisition of USD$100 million notes issued by Xignux, and guaranteed by various affiliate companies in a private placement. The notes issued by Xignux, are pagarés under Mexican law subject to dual jurisdiction.
The firm advised several entities of a multinational insurance company in the acquisition of USD$82 million notes issued by Grupo Lamosa, and guaranteed by various subsidiary companies in a private placement. A portion of the issuance proceeds was used to prepay existing indebtedness.
The firm advised the bondholders and common representative of GICSA-15, GICSA-17, and GICSA-19 in the bond restructure process.
The restructure will allow Grupo GICSA to reach a sustainable capital structure that maximizes the value for all stakeholders of the company and gives Grupo GICSA a better financial position in the long term.
The firm advised three different bondholder series simultaneously and advised to change the position of the bondholders from unsecured creditors to secured creditors of Grupo GICSA.
The firm advised BBVA México and Bancomext, as joint lenders, on a secured financing for an amount of USD$200 million to Desarrolladora Hotelera de la Riviera, for the refinancing of debt and other corporate purposes in connection with the Hotel Royalton located in Cancún, Quintana Roo.
The firm advised Bancomext on a secured financing to Walton Street Capital for an amount of USD$183 million.
The firm advised and represented Banco Sabadell, acting as lender in the negotiations, structuring and documentation of a secured credit facility granted by the lender to Banco Actinver, for a total amount of USD $31 million for the acquisition of industrial buildings.
The firm acted as Mexican counsel to BNP Paribas, in connection with the negotiation and execution of the Extension and Amendment to the Credit Agreement granted to Sigma Alimentos. The transaction closed in a relatively short time and required amendments due to the transition from LIBOR announced by the United Kingdom’s Financial Conduct Authority (FCA).
The firm advised Las Hormigas Valle Real, an operating company to the CKD managed by Grupo Renovables Agrícolas, Mexican subsidiary to Renewable Resources Group, LLC (“RRG”) as borrower, in its first structured loan for a total amount of USD$44 million granted by Metropolitan Tower Life Insurance Company.
Agribusiness represents an important industry for RRG in Mexico and the involvement of the firm as counsel to the borrower was crucial in the development of a creative legal and securities scheme, flexible enough so that the borrower can operate its business but with solid guaranties acceptable to the foreign lender and secured parties.
The firm advised Banorte acting as lender in the negotiations, structuring and documentation of a MXN$4.750 million secured credit facility granted to LMF Frisa Comercial, which facility was primarily addressed to repay existing debt.
The firm advised Fibra Storage in the establishment and registration of its first programme of long term notes (certificados bursátiles de largo plazo) for a maximum amount of MXN$3,000 million and in the first and second green issuances thereunder for a total amount of MXN$1,171 million and MXN$329 million, respectively, placed on the Mexican Stock Exchange (BMV). The first and second issuances were rated by HR Ratings (“HR AA”) and Fitch (“AA- (mex)”).
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