Client or Matter Name
Grupo Empresarial Maestro, S.A. P.I. de C.V. - “Grupo Crédito Maestro”
We acted as counsel to Grupo Crédito Maestro, as borrower, in the MXN$1,300,000,000.00 (Approx. USD$65,000,000.00 (Sixty Five Million Dollars)) large-scale financing granted by Banorte, as lender – the second largest financial group in Mexico and the one with the largest business diversification in the market – to fund the acquisition and/or origination of loans and related collection rights by Grupo Crédito Maestro.
Innovation & Additional Comments
The deal was particularly challenging given that it was necessary to implement a complex collateral package in the form of, among others, a trust agreement to serve as the guarantee and source of payment mechanism of the financing.
Finally, this matter is also relevant since it shows confidence in the payroll lending sector in Mexico.
Date of Closing / Signing
Other Firms Involved
Lead Partner: Luis A. Cervantes Muñiz