Successful Financial Restructuring for the Grand Island Cancún Project

NHG advised Grupo Murano, through several affiliates, on the successful financial restructuring of its US$240 million syndicated senior secured credit facility provided by a syndicate of lenders, leaded by Sabadell, for the construction and development of the Grand Island Cancún project. The syndicate of lenders is comprised of commercial banks Sabadell, SabCapital, and CaixaBank, and Mexican development banks Bancomext and Nafin.

Murano is a leading Mexican development company with extensive experience in the structuring, development and assessment of industrial, residential, corporate office, and hotel projects in Mexico. Murano has a national footprint and international outreach aimed at institutional real estate investors.

NHG 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.

NHG advised three different bondholder series simultaneously and advised to change the position of the bondholders from unsecured creditors to secured creditors of Grupo GICSA.

Advised the largest Ad Hoc Group of bondholders of Aerovías de México in the Chapter 11 proceedings of Grupo Aeroméxico and subsidiaries, including the DIP financing, exit debt and equity financing.