Mexichem’s $1.5 Billion Revolving Credit Facility

DRB Consultores Legales, Davis Polk & Wardwell, Ritch Mueller and Skadden, Arps, Slate, Meagher & Flom advised on the transaction

Mexichem signed the renewal of its $1.5 billion revolving credit facility, maturing in five years, as well as improving different clauses and conditions in line with its investment grade rating from Standard & Poor’s (‘BBB-‘ Global scale and ‘MXAA / MXA-1 +’ National scale), FitchRatings (‘BBB’ Global scale and ‘AA + (mex)’ National scale) and Moody’s (‘Baa3’ Global scale).

MUFG Bank acted as administrative agent on the transaction

The loan can be used for general corporate purposes, including corporate acquisitions, the refinancing of debt and financing of trade transactions, among others. This agreement replaces the one signed in 2014 and has been signed by a syndicate of 11 of the best well-known global financial institutions.

In Mexico, Ritch Mueller advised MUFG Bank with a team including Jean Paul Farah Chajín (Picture), Gabriel Robles Beistegui, Enrique López Scherer and Diego García Fernández Mora.

Skadden, Arps, Slate, Meagher & Flom advised the lenders in NY.

DRB Consultores Legales and Davis Polk & Wardwell advised Mexichem on the transaction.

Involved fees earner: Jean Paul Farah Chajín – Ritch, Mueller, Heather y Nicolau, SC; Enrique López Scherer – Ritch, Mueller, Heather y Nicolau, SC; Gabriel Robles Beistegui – Ritch, Mueller, Heather y Nicolau, SC;

Law Firms: Ritch, Mueller, Heather y Nicolau, SC;

Clients: MUFG Bank, Ltd.;

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Author: Ambrogio Visconti.