Nader, Hayaux & Goebel advised Total Play Telecomunicaciones, (“Total Play”), a leading provider of triple play services in Mexico, in the issuance and public offering of short-term debt certificates (certificados bursátiles de corto plazo) identified with ticker symbol “TPLAY 00126”, for a total amount of MXN 1 Billion (approximately USD 51 million), under its current debt program.

The issuance was carried out in the Mexican securities market and forms part of Total Play’s ongoing financing strategy to support its operations and growth. The certificates bear a variable interest rate equivalent to 2.25 percentage points above the “TIIE de Fondeo” reference rate.

This transaction reflects continued investor confidence in Total Play’s business model, the strength of its fiber-optic infrastructure, and its position as one of the leading telecommunications providers in Mexico.

The NHG team was led by partner Ana Paula Telleria, with key support from associates Nicolás Pacheco and Emilia Silva, and law clerk Regina Rueda, providing comprehensive legal counsel to the client throughout all stages of the transaction.

NHG is proud to have supported Total Play in this successful issuance, further strengthening its access to the Mexican capital markets.

Nader, Hayaux & Goebel (NHG) is proud to announce that the Firm has received multiple recognitions at The Legal 500 Mexico Awards 2026, held last night in Mexico City:

Firm Award

Insurance Law Firm of the Year

Individual Awards

Projects and Infrastructure Lawyer of the Year

Partner Alejandro Rojas

Rising Star Associate of the Year

Ana María Alpízar

Banking & Finance Deal of the Year 

Engie / Mayakan

These distinctions underscore the Firm’s strong track record across core practice areas and reflect the quality, consistency, and collaborative approach that define NHG’s work. They also recognize the individual contributions of our lawyers, whose expertise continues to drive results on complex and high-impact matters.

We are sincerely thankful to our clients for their ongoing trust and partnership. Their support is essential to our work and encourages us to keep raising the bar in the services we provide.

We also extend our congratulations to everyone involved in these achievements and remain committed to continuing this momentum in the future.

Nader, Hayaux & Goebel (NHG) is pleased to announce that the Firm has been recognized with the Mexico Client Service Award at the Chambers Latin America Awards 2026.

This recognition highlights the Firm’s continued commitment to excellence and most importantly, to delivering outstanding service to our clients. Client service has always been one of our core values and a fundamental pillar of our culture and professional practice. This award reflects the collective effort, dedication and professionalism of every member of the Firm.

We are deeply grateful to our clients for their continued trust and collaboration, which make achievements like this possible. Their confidence in our work inspires us to continue striving for the highest standards in everything we do.

We thank everyone who has contributed to this achievement and look forward to continuing to raise the standard of client service in the years ahead.

Nader, Hayaux & Goebel advised BBVA México, as lender, arranger, collateral agent and administrative agent, in connection with a MXN 2.2 billion refinancing facility granted to Valores Patrimoniales DM (“Valores Patrimoniales”), owner of the landmark mixed-use development Punto Valle located in San Pedro Garza García, Nuevo León.

The financing was provided by BBVA, together with Banco Multiva, Banca Mifel and Banco del Bajío, acting as lenders. The transaction involved the refinancing and full repayment of an existing credit facility, including the cancellation of the prior financing structure and the release of the related guarantees.

The refinancing required a comprehensive restructuring of the existing financing arrangements, as well as the implementation of a new collateral package aligned with the project’s cash flow structure.

The facility is secured by (i) a Mexican security trust (fideicomiso de garantía) to which collection rights arising from the commercial activities of the Punto Valle shopping center were conveyed, and (ii) a first-priority mortgage over the project.

Punto Valle is one of the most prominent mixed-use developments in northern Mexico, combining retail, fine dining, entertainment and office space, and serving as a leading commercial and lifestyle destination in the Monterrey metropolitan area.

The NHG team, led by Michell Nader, with key support from associates Fernando Villalón, Manuel Núñez, Santiago Rovelo, and law clerk Regina Valerio, advised BBVA and the lender syndicate throughout the structuring, negotiation, documentation and closing of the transaction. 

The refinancing also involved complex negotiations related to the regularization and substitution of previously issued mandatorily convertible obligations into shares, as well as the design and implementation of a comprehensive collateral and covenant package. 

NHG is proud to have contributed to a refinancing that supports the continued growth and consolidation of Punto Valle as one of the leading mixed-use commercial and lifestyle destinations in northern Mexico.

NHG has advised Proparco (Société De Promotion Et De Participation Pour La Coopération Économique S.A.) and DEG (Deutsche Investitions- und Entwicklungsgesellschaft mbH), as lenders, in the financing of C3ntro Telecom’s 2,513.63 km cross-border long-haul fiber infrastructure project linking Mexico and the United States.

The financing supports the design, construction, and operation of the Mexican segment of a first-of-its-kind dark fiber route connecting Querétaro, Mexico, with Phoenix, Arizona, through a high-capacity digital infrastructure corridor designed to meet rapidly growing demand from hyperscalers, cloud platforms, AI-driven workloads, and cross-border data traffic, which is critical for Mexico’s digital infrastructure growth.

NHG acted as Mexican legal counsel to the lenders, providing comprehensive advice on the project’s financing structure and the Mexican regulatory framework applicable to the construction and operation of the asset. NHG’s work included project due diligence, financing implementation (including the collateral package), and analysis of regulatory, permitting, environmental, social, tax, and insurance matters. NHG also assisted the lenders in assessing project feasibility, legal risks, and compliance with applicable Mexican law and regulations, as well as relevant international standards. NHG worked closely with the lenders’ US counsel, Clifford Chance, and with C3ntro Telecom’s counsel, Milbank LLP and Galicia Abogados, S.C.

The matter required multidisciplinary coordination across project finance, telecommunications regulation, infrastructure, insurance, and social and environmental workstreams, and involved a cross-border legal and operational structure spanning Mexico and the United States, with complex structuring and regulatory considerations applicable to a large-scale cross-border telecom asset.

The NHG team was led by Javier Arreola, with key support from Santiago Medina, Marcela Ánimas, Adalberto Valadez, and Luciano Pérez, together with associates Ana María Alpízar, Santiago Contró, Andrea Ysusi and Laura Villa, with support from law clerks Andrés Montemayor, Fernando Padilla, and Marina Ochoa.

NHG is proud to have contributed to a financing that supports not only the execution of a complex cross-border telecom project, but also the continued development of Mexico’s digital infrastructure ecosystem.

Nader, Hayaux & Goebel is pleased to announce the addition of Diana Pineda as Partner and Pedro Lladó as Of Counsel, effective February 16, 2026.

Diana Pineda is widely recognized for her work at the intersection of energy, project development and dispute resolution. She has advised domestic and international stakeholders on high-value, complex matters across the hydrocarbons and power sectors, including regulatory strategy, project structuring and contentious proceedings. Throughout her career, Diana has represented sponsors, developers and major industry participants in sophisticated regulatory, transactional, and arbitration matters, earning a stellar reputation for her technical depth and strategic judgment.

The arrival of Diana as Partner significantly strengthens the Firm’s energy practice, particularly in mandates that require integrated regulatory, transactional and dispute resolution expertise. Her experience further enhances the Firm’s ability to support clients navigating complex legal and commercial challenges in evolving regulatory environments.

Pedro Lladó is a recognized practitioner in infrastructure and energy, with particular focus on project development and finance. He has advised sponsors, lenders and investors on complex domestic and cross-border transactions, including acquisitions, financings and the development of large-scale projects in regulated industries. His experience spans the power and oil & gas sectors, where he has participated in significant transactions involving project structuring, financing arrangements and contractual frameworks.

Pedro’s addition reinforces the Firm’s infrastructure and energy capabilities, particularly in sophisticated project development and finance matters.

Hans Goebel, Chairman of Nader, Hayaux & Goebel, commented:

“Diana and Pedro bring exceptional experience and judgment in sectors that are central to our service offering. Their arrival reflects our commitment to strengthening our energy and infrastructure platform with seasoned professionals who combine technical excellence with a deep understanding of the industries they serve."

The addition of Diana and Pedro reinforces Nader, Hayaux & Goebel’s continued growth strategy and its commitment to expanding its sector-focused capabilities while delivering sophisticated, business-oriented advice to clients.

Nader, Hayaux & Goebel (NHG) advised Tecnologías Rappi on the sale to Grupo Financiero Banorte of the totality of its shares in Tarjetas del Futuro the company that operates Rappicard in Mexico, for USD 50 million. The transaction also included the execution of an exclusive 15-year commercial agreement between the parties, marking a strategic shift in their relationship within the Mexican fintech and financial services market.

NHG’s role encompassed comprehensive legal advice on the structuring and execution of the transaction, which involved the restatement and amendment of various agreements originally executed in 2020. The deal required the transfer of equity, software, and the restructuring of financing arrangements, as well as the transition from a joint venture structure to a long-term commercial relationship. The closing of the transaction is subject to certain conditions precedent, including obtaining approval from the Mexican antitrust authority.

NHG’s participation in this transaction underscores the firm’s strength in handling complex M&A and fintech transactions involving innovative deal structures and highly regulated industries. This transaction highlights NHG’s ability to support leading technology companies in strategic transactions with major financial institutions and reinforces its position as a trusted legal advisor on high-value, market-shaping deals in Mexico.

Nader, Hayaux & Goebel (NHG) is pleased to announce the promotion of Fernando Castillo y Jorge Bojalil to Partners, effective January 1, 2026.

Fernando Castillo has extensive experience in project finance, infrastructure and real estate. His practice focuses on advising domestic and international sponsors, developers, financial institutions, investors, multilateral agencies and government entities on complex financings, structured transactions and strategic investments in Mexico and in cross-border contexts.

Fernando has been involved in some of NHG’s most significant infrastructure and real estate projects, supporting clients throughout the full lifecycle of their investments—from structuring and financing to execution and exit. He is widely recognized for his technical depth, strategic insight and ability to deliver comprehensive solutions on highly sophisticated matters. His promotion underscores NHG’s commitment to excellence, long-term growth and the continued strengthening of its project finance and real estate capabilities.

Jorge Bojalil, a senior member of the Firm’s corporate practice, has developed a solid reputation advising on complex corporate transactions, restructurings and insolvency matters. His experience includes advising domestic and international clients on acquisitions of assets and debt, restructuring and workout processes, financings and debt issuances, as well as on the acquisition and sale of Mexican companies and the structuring of investment platforms for multinational groups.

Throughout his career at NHG, Jorge has played a key role in sophisticated transactions across multiple industries, consistently demonstrating strong technical capabilities, a practical approach and the ability to efficiently manage complex matters while aligning legal strategy with clients’ business objectives. His promotion reflects the Firm’s continued commitment to developing talent from within and further strengthening its corporate, restructuring and insolvency practice.

NHG Chairman Hans Goebel stated:

“The promotion of Fernando and Jorge to the partnership reflects the Firm’s long-standing commitment to developing exceptional talent from within. Fernando’s appointment as Partner underscores our strategic focus on further strengthening and expanding our capabilities in project finance, infrastructure, and real estate. His proven track record in structuring and executing sophisticated financings and investments across sectors such as transportation, energy, water and hospitality adds significant depth and scale to our transactional platform. Jorge’s elevation to the partnership recognizes his outstanding ability to advise investors, creditors and companies on highly complex restructuring, insolvency, financing, and M&A matters. His technical excellence, commercial judgment, and leadership have made him a trusted advisor to clients and a key contributor to the Firm’s growth.”

The promotion of Fernando and Jorge reinforces NHG’s position as a leading firm in corporate, transactional, restructuring, project finance and real estate matters. Their expertise and leadership are expected to further enhance the Firm’s ability to deliver high-quality, tailored legal solutions and to continue providing exceptional value to our clients.

Nader, Hayaux & Goebel (NHG) advised MercadoLibre, the leading e-commerce and fintech ecosystem in Latin America, on Mexican legal matters related to its USD 750 million issuance of 4.900% Senior Unsecured Notes due 2033, conducted under the company’s U.S. SEC-registered shelf program. This offering marks MercadoLibre’s first debt issuance following its achievement of investment-grade ratings from S&P and Fitch, an important milestone reflecting strong credit fundamentals and strategic financial positioning.

NHG’s role focused on the legal analysis and support associated with the guarantees provided by MercadoLibre’s subsidiaries in Mexico, which form part of a cross- jurisdictional guarantee structure spanning key Latin American markets. This work included navigating applicable Mexican regulatory requirements and coordinating with cross-border counsel to facilitate seamless execution of the transaction. The Notes are guaranteed by several subsidiaries in the region, including entities in Mexico, and legal opinions regarding the validity of the related guarantees were provided in connection with the offering.

NHG’s participation in this offering highlights the firm’s expertise in advising on complex cross-border financings and positions NHG as a trusted legal advisor for multinational clients on high-profile capital markets transactions involving Mexican legal components. This transaction reaffirms MercadoLibre’s ability to access global capital markets under attractive terms and reflects its strengthened credit status following investment-grade upgrades.

Nader, Hayaux & Goebel (NHG) is pleased to announce its recognition in the Chambers & Partners FinTech Guide 2026, one of the leading global references for excellence in the FinTech sector.

In this edition, NHG was recognized for its FinTech practice, reflecting the Firm’s continued commitment to delivering innovative, high-quality legal solutions in Mexico’s dynamic and evolving FinTech market.

Additionally, Chambers & Partners FinTech Guide 2026 recognized Adrián López for his individual expertise and contributions to the Firm’s FinTech practice. His leadership, technical knowledge, and client-focused approach continue to strengthen NHG’s position and impact within the FinTech ecosystem.

These recognitions reaffirm NHG’s role as a trusted legal advisor in Mexico for complex FinTech matters, supporting innovative companies and financial institutions across the sector.