Client or Matter Name

Altum Capital CP, S.A.P.I. de C.V., SOFOM, E.N.R. (“Altum Capital”) – outstanding Mexican credit fund.

Deal Description

Counsel to Altum Capital - outstanding Mexican credit fund - in the structured financing granted to PCH Servicios Financieros, S.A.P.I. de C.V., SOFOM, E.N.R. (“PCH Servicios Financieros”) - Mexican company dedicated to lending, leasing and factoring to small and medium-sized enterprises (PyMEs) - for an amount up to MXN$75,000,000.00 (the “Financing”).

Innovation & Additional Comments

As a part of the Financing, it was necessary to implement an administration and source of payment trust - together with a management agreement - to serve as an alternative payment mechanism.

The matter was challenging given that the first disbursement of the Financing took place simultaneously to the execution of the principal documents; therefore, it was necessary to implement all the necessary actions and conditions to achieve such disbursement on time.

Pursuant to the foregoing and for the purposes of the first disbursement, it was necessary to implement an assignment agreement, by means of which certain required collection rights were assigned.

In addition, it was necessary to execute a non-possessory pledge agreement, by means of which the assets subject to the lease agreements, whose collection rights were assigned, were pledged.

Jurisdiction

Mexico

Governing Law

Mexican Federal Law

Deal Value

MXN75,000,000.00 (Seventy-Five Million Pesos 00/100 M.N.).

Deal Duration, Date of Closing / Signing

  • Formal negotiations to carry out the Financing (as defined above) began on August 2, 2021.
  • Transaction closing: September 9, 2021.
  • Financial closing (1st disbursement of the Financing for the amount of MXN$30,000,000.00 (Thirty Million Pesos 00/100 Mexican Currency)): September 9, 2021

Practice Area

  • Corporate Finance

Team GC

  • Lead Partner: José Ignacio Rivero Andere
  • Managing Associate: Jacinto Ávalos Capin
  • Associate: Rodrigo Poumian González
  • Law clerks: Héctor Ferrari Ruíz y Patricio Galván-Duque Aranaz

Other Firms Involved

  • CDG Abogados, as legal counsel to PCH.
  • Socio líder: Alejandro Díaz Esteta