Client or Matter Name
Grupo Crédito Mestro – leader in the payroll financing industry in México which generates more than MXN$2 Million in portfolio each year.
Deal Description
Counsel to Grupo Crédito Maestro, as borrower, in the execution of a simple loan facility for the amount of MXN$150,000,000.00 (the “Financing”) granted by CI Banco, as lender – One of the leader banks in the country, particularly in providing fiduciary services – for the support of the financing of the portfolio of the subsidiaries of Grupo Crédito Maestro.
Innovation & Additional Comments
The matter was particularly challenging since the Financing involved the structuring and implementation of a loan agreement, a management agreement and a master management agreement, as well as the corresponding package of guarantees in the form of a security trust.
Due to various factors, it was necessary to conclude these agreements in record time, which added a higher level of complexity in the negotiations with the counterparty.
Jurisdiction
- Mexico
Governing Law
- Mexican federal law
Deal Value
- MXN$150,000,000.00 (One hundred fifty million Pesos 00/100 M.N.) corresponding to the total amount of the Financing (as defined above).
Deal Duration, Date of Closing / Signing
- Formal negotiations to implement the Financing (as defined above) began on February 24, 2022.
- Transaction closing: April 4, 2022
Practice Area
- Corporate Finance
Team GC
- Lead Partner: José Ignacio Rivero Andere
- Managing Associate: Jacinto Avalos Capin
- Associate: Luis González Ludlow y Alonso Mirón Granados
- Legal Clerks: Héctor Ferrari Ruíz y Valeria Camacho Bello
