Gruma, S.A.B. de C.V.’s $$400 Million Term and Revolving Credit Facility


Paul Hasting, Galicia Abogados and Shearman & Sterling have advised on the transaction

Gruma, S.A.B. de C.V., the world’s largest tortilla and corn flour producer, secures a $400 million term and revolving credit facility.

The facility was provided by a syndicate of banks, with Banco Nacional de Mexico, S.A. Integrante del Grupo Financiero Banamex, Bank of America, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Cooperatieve Rabobank U.A., JPMorgan Chase Bank and the Bank of Nova Scotia as joint lead arrangers.

The proceeds will be used to for the payment of existing indebtedness, working capital financing and for other general corporate purposes. Paul Hastings has previously advised Gruma on a number of transactions, including a US$400 million international bond offering and the redemption of likely the only corporate perpetual bond ever issued in Mexico.

Paul Hasting has advised with a team including Michael L. Fitzgerald (Picture), Joy K. Gallup, Veronica Rodriguez, Eduardo Gonzalez and Laura Berazaluce.

Galicia Abogados, S.C. has advised the syndicate of banks with Guillermo Pérez Santiago, Rosemarie McLaren and Marco Aurelio López.

Shearman & Sterling has adivsed syndicate of banks in US.

Involved fees earner: Guillermo Pérez Santiago – Galicia Abogados, S.C; Rosemarie Mc Laren Magnus – Galicia Abogados, S.C; Michael Fitzgerald – Paul Hastings; Joy Gallup – Paul Hastings; Veronica Rodriguez – Paul Hastings; Eduardo Gonzalez – Paul Hastings;

Law Firms: Galicia Abogados, S.C; Paul Hastings;

Clients: Bank of America; Rabobank; Scotiabank; Bank of Tokyo Mitsubishi UFJ; JPMorgan Chase & Co.; Banco Nacional de México, S.A.; Gruma, S.A.B. de C.V.;

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Author: Ambrogio Visconti