Client or Matter Name
Banco General – Financing to Maquinaria Especial and Polibio
Deal Description
Represented Banco General, the largest private equity bank in Panama, in the secured financing granted to the entities of Grupo Polibio and Maquinaria Especial. As part of this matter, the firm advised Banco General in certain processes for the cancellation of guarantees previously granted by the borrowers’ team, as well as in the assignment of certain collection rights on leases to operate as a source of payment. and collateral.
GC participated as lead counsel of the transaction, representing Banco General.
Borrowers and Guarantors: Maquinaria Especial, S.A. de C.V. and Polibio, S.A. de C.V.
Creditor: Banco General, S.A.
Innovation & Additional Comments
This was a legally complex operation, as it required certain modifications and corporate movements at the borrowers’ level, as well as the cancellation of previous real guarantees and the assignment and contribution of certain credit rights originated by lease contracts to function as a source of payment and collateral. Additionally, a new real guarantee (mortgage) was created to guarantee the obligations of the borrowers before the creditor.
Jurisdiction
Mexico
Governing Law
Mexico and Panama
Deal Value
USD$1.54 million
Deal Duration, Date of Closing / Signing
- Kick-Off: May 2021
- Closing: September 30, 2021
Practice Area
- Corporate Finance
Team GC
- Bernardo Reyes Retana K. – Lead Partner
- Pedro Buchanan G. – Associate
- Fernando Blanco G. - Associate
Other Firms Involved
Matsui & Salem Abogados, S.C., represented the borrowers (Maquinaria Especial and Polibio) in Mexico.
- Attorneys: José Salem (partner) and Guadalupe Montes.
