Mexico: GC represented HIR Casa in a structured loan for MXP$1 billion entered with International Finance Corporation (IFC)

Client or Matter Name
HIR Casa in a structured loan for MXP$1 billion entered with International Finance Corporation (IFC).

Deal Description
Acted as independent counsel to HIR Casa (Bienes Programados), through Banco Invex as trustee and as borrower, in the structuring and implementation of a structured loan for MXP$1 billion entered into with International Finance Corporation (IFC), as lender.

In addition, Banco Invex acted as trustee of the vehicle executing the loan agreement, HIR Casa acted as Primary Manager, and Administradora de Activos Financieros (ACFIN) acted as Master Servicer.

With this transaction, HIR Casa and the IFC will present a new product that seeks to promote real estate financing and mortgage aid for women in Mexico.

Innovation & Additional Comments
With this transaction, HIR Casa and the IFC will present a new product that seeks to promote real estate financing and mortgage aid for women in Mexico. This forms part of the effort being conducted by HIR Casa in the financial and estate/patrimonial development of women, committed with specific actions to help reducing the gender disparity that exists in the region.

Likewise, this transaction reiterated the trust that banks have in HIR Casa, a non-banking financial institution (IFNB, for its acronym in Spanish), now from an international institution member of the World Bank Group.

Jurisdiction
Mexico and the State of New York.

Governing Law
Mexico and the State of New York.

Deal Value
Total Loan Amount: MXP$1 billion

Deal Duration, Date of Closing / Signing
Kick-Off: March, 2023

Execution date: September 20, 2023

Practice Area
Corporate Finance

Team GC
Lead Partner: Bernardo Reyes Retana K.
Senior Managing Associate: Francisco J. Alvarez Campos
Associate: Fernando Blanco González

Other firms involved
Galicia Abogados, S.C., as counsel to the IFC.
Likewise, the inhouse legal teams of HIR Casa, led by attorneys Arturo Garduño (Corporate and Administrative General Counsel) and Alejandro Alatriste (Corporate and Administrative Deputy General Counsel), as well as the IFC, had a significant participation in this transaction.