Client or Matter Name

We acted as legal advisors of Grupo Resuelve tu Deuda (RTD) – one of the most relevant companies in the credit repair business in México, Spain and Colombia, comprised of, among others, financial entities.

Deal Description

Counsels to RTD as borrower, in the execution of a Second Amendment Agreement to the Credit Agreement dated December 10, 2019 (the “Original Contract”), as it has been amended pursuant to the First Amendment Agreement dated December 17, 2020 (the “First Amendment Agreement”) pursuant to which, among others, the credit line was increased by USD $ 10’000,000.00 (Ten million Dollars) granted by AM Partners (Alloy) as lender, -a cross-border financial company with operations in Mexico and the United States of America- to, among others, fund intercompany loans with its subsidiaries for working capital, exclusively in Colombia, Mexico and Spain (the “Financing Operation”).

Innovation & Additional Comments

As part of the Financing Operation, the restatement of the Original Agreement was necessary, as well as the ratification of the existing guaranties, and the creation of a pledge granted in Colombia as part of the negotiation of the increase in the credit line.

The matter was challenging due to the interrelation of the Financing Operation documents and the multiplicity of jurisdictions involved, therefore, it was necessary to implement all the actions and conditions necessary to achieve the closing of the transaction in time.

Jurisdiction

Mexico

Governing Law

Mexican federal law

Deal Value

USD$10,000,000.00 (Ten Million Dollars 00/100 M.N.) corresponding to the increase of the credit line of the Original Contract .

Deal Duration, Date of Closing / Signing

  • Formal negotiations to implement the Additional Financing (as defined above) began on October 31, 2021.
  • Transaction closing: September 23, 2021
  • Financial closing (disbursement of Tranche C of the Additional Financing): September 23, 2021

Practice Area

  • Corporate Finance

Team GC

  • Lead Partner: José Ignacio Rivero Andere
  • Managing Associate: Luis González Ludlow
  • Associate: Rodrigo Poumian González and Alonso Mirón Granados

Other Firms Involved

Mayer Brown Mexico, S.C., as legal counsel to Alloy.

  • Lead Partner: Raúl Fernández Briseño