Hogan Lovells advised Banco Santander on a US$110m master receivables factoring agreement with Vitro, SAB de CV and certain subsidiaries.
In the report on the Mexican Stock Exchange, Vitro announced that it intends to prepay part of its syndicated loans with some of the proceeds, with the overall aim of improving the financial costs of Vitro and its capital structure.
Banco Santander is a group of mainly European and American credit institutions.
Vitro is the largest glass producer in Mexico and one of the world’s main organizations in its industry.
The cross-border team was led by partner Federico de Noriega (Picture – Banking, Mexico City) supported by partners Ricardo Martínez (Banking, New York) and Emil Arca (International Debt Capital Markets, New York), senior associates Aldonza Sakar (Banking, Mexico City) and Andrew Ceppos (IDCM, New York), and associates Juan Lizardi (Banking, Mexico), Chris Bonilla (Banking, New York) and Cassandra Herivaux (Banking, New York).
Involved fees earner: Emil Arca – Hogan Lovells; Christopher Bonilla – Hogan Lovells; Andrew Ceppos – Hogan Lovells; Federico De Noriega Olea – Hogan Lovells; Cassandra Herivaux – Hogan Lovells; Juan Enrique Lizardi – Hogan Lovells; Ricardo Martinez – Hogan Lovells; Maria Aldonza Sakar Almirante – Hogan Lovells;
Law Firms: Hogan Lovells;
Clients: Banco Santander Sa;