Grupo Industrial Saltillo, S.A.B. de C.V.’s $300 Million Syndicated Loan

Santamarina y Steta Monterrey’s Office advised, Grupo Industrial Saltillo, S.A.B. de C.V. (“GIS”) and acted as lead counsel in the negotiation and execution of a syndicated loan facility of up to $300 Million

The financing is subject to New York laws with corporate guaranties in Mexico and pledges over stock of subsidiaries in Spain.

The loans obtained from the credit facility will be used by GIS to refinance their existing syndicated loan and prepay the deferred purchase price from the acquisition of Infun Group on December 2016. The syndicated loan involved 10 different banking institutions and will allow GIS to continue their globalization and growth strategies.

Citigroup Global Markets Inc. acted as lead financing lender and agent and HSBC as collateral agent.

Grupo Industrial Saltillo SA de CV holds interests in companies in the automotive, building materials, and home products industries. The company, led by Juan Carlos Lopez Villareal, Jose Manuel Arana Escobar and Jorge Armando Mercado Perez, in 2017 recorded $850 Million revenues.

Santamarina y Steta Monterrey advised Grupo Industrial Saltillo, S.A.B. de C.V. with a team including Carlos Arguelles (Picture), Bárbara Asiain and Lisa Carral Flores.

Cuatrecasas Gonçalves Pereira assisted as Spanish counsel to Grupo Industrial Saltillo, S.A.B. de C.V.

Paul Hastings acted as New York counsel to the lenders with a team including Michael Fitzgerald, Joy Gallup, Steven Sandretto, Eduardo Gonzalez, Laura Dinora Martinez, Andrew Short and Stephen Grace.

Mijares Angoitia Cortés y Fuentes, S.C., as Mexican counsel to the lenders

Gómez Acebo y Pombo acted as Spanish counsel to the lenders.

Involved fees earner: Carlos Argüelles – Santamarina y Steta; Bárbara Asiain – Santamarina y Steta; Marcela Flores G. – Santamarina y Steta; Michael Fitzgerald – Paul Hastings; Joy Gallup – Paul Hastings; Steven Sandretto – Paul Hastings; Eduardo Gonzalez – Paul Hastings; Andrew Short – Paul Hastings; Stephen Grace – Paul Hastings;

Law Firms: Santamarina y Steta; Paul Hastings;

Clients: Citigroup Global Markets Ltd; Grupo Industrial Saltillo SA de CV ;


Author: Ambrogio Visconti.