Mexico: GC acted as counsel to GLAS Trust Corporation Limited (GLAS) as security agent, in Mexican law aspects and collateral, in the financing for €1,700 million

Client or Matter Name
Project Capricorn

Deal Description
We acted as counsel to GLAS Trust Corporation Limited (GLAS) as security agent, in Mexican law aspects and collateral, in the financing for €1,700 million granted by Macquarie Bank, Crédit Agricole, Mizuho Bank, Barclays, BNP Paribas, Goldman Sachs and HPS Investment and the other members of the international lenders’ group, to Capripack HoldCo Ltd.

This transaction involved a relevant collateral package under Mexican law and implied certain cross-border complications and challenges.

Innovation & Additional Comments
This transaction had to be documented in a very short time and implied certain cross-border complications and challenges.

Jurisdiction
Mexico (Collateral), United Kingdom and United States (Loan).

Governing Law
Mexico (Collateral), United Kingdom and United States (Loan).

Deal Value
€1,700 million.
Deal Duration, Date of Closing / Signing
Execution date: June 20, 2024.

Practice Area
Banking and Finance (Corporate Finance)

Team GC
Bernardo Reyes Retana Krieger – Partner
Alberto Bustamante Celis – Counsel
Fernanda Koloffon Escalé – Associate

Other firms involved
Milbank, as UK and US co-counsel to the lenders.

Greenlake Legal, as UK counsel to the borrower.

Sánchez Devanny, as Mexican counsel to the borrower.