Advising Banorte and Citibanamex as lenders in relation to a secured credit facility granted to Frisa.

Nader, Hayaux & Goebel advised and represented Banco Mercantil del Norte, S.A. (“Banorte”) and Banco Nacional de México, S.A. acting as lenders (the “Lenders”) in the negotiations, structuring and documentation of a secured credit facility granted by the Lenders to LMF Frisa Comercial, S. de R.L. de C.V. (“Frisa”) which facility was primarily addressed to repay existing debt and capex.

The transaction involved Frisa, which is one of the most important industrial, retail, and office real estate investors in Mexico, focusing on income-producing properties. The due diligence included 7 shopping centers, most of them being subject to condominium regimes. The deal also included more than 809 lease agreements.

The financing consisted in a syndicated facility led by Banorte. The facility was secured by a Mexican Guaranty Trust. The assets securing the facility under the Mexican Guaranty Trust are the properties and rents under 809 lease agreements.

The transaction was recently covered by LatinLawyer.