Operadora de Servicios Mega’s $350 Million Notes Offering

Paul Hastings and Mijares, Angoitia, Cortés y Fuentes advised Operadora de Servicios Mega, S.A. de C.V., SOFOM, E.R.. Cleary Gottlieb represented Barclays Capital Inc., Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC, as initial purchasers, in the debt offering.

Operadora de Servicios Mega, S.A. de C.V., SOFOM, E.R. (Mega) issued a debt offering of $350 million 8.250% senior notes due 2025.

Mega’s inaugural international offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transaction priced on February 6, 2020 and closed on February 11, 2020. Mega will use a portion of the proceeds of the offering to repay existing indebtedness and the remainder for general corporate purposes.

Mega is a Mexican leasing company based in Guadalajara, Jalisco, with more than 15 years of operating experience specializing in three main business lines: leasing, lending and auto loans. It specializes in serving small and medium-sized enterprises in Mexico, which are largely underserved by traditional banking institutions.

In US, Paul Hastings advised Operadora de Servicios Mega, S.A. de C.V., SOFOM, E.R. (GF Mega) with Michael L. Fitzgerald, Joy K. Gallup, Arturo Carrillo, Pedro Reyes,  Eduardo González and José de Jesús Pellón Martínez.

Mijares, Angoitia, Cortés y Fuentes advised Operadora de Servicios Mega, S.A. de C.V., SOFOM, E.R. (GF Mega) with  Ricardo Maldonado Yáñez, Carlos Jiménez Cantú and  Alejandro Piña Zubirán.

The Cleary corporate team included partner Jorge Juantorena (Picture), associates Linda Zang and Rigoberto Chavez, and international lawyer Gabriela Gallo. Partner Jason Factor and law clerks Colleen O’Donnell and Drew Schaefer provided tax advice.

Involved fees earner: Rigoberto Chavez – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Gabriela Gallo – Cleary Gottlieb Steen & Hamilton; Jorge Juantorena – Cleary Gottlieb Steen & Hamilton; Linda Zang – Cleary Gottlieb Steen & Hamilton; José de Jesús Pellón Martínez – Mijares, Angoitia, Cortés y Fuentes, S.C.; Carlos Jiménez Cantú – Mijares, Angoitia, Cortés y Fuentes, S.C.; Ricardo Maldonado-Yáñez – Mijares, Angoitia, Cortés y Fuentes, S.C.; Alejandro Piña Zubirán – Mijares, Angoitia, Cortés y Fuentes, S.C.; Arturo Carrillo – Paul Hastings; Michael Fitzgerald – Paul Hastings; Joy Gallup – Paul Hastings; Eduardo Gonzalez – Paul Hastings; Pedro Reyes – Paul Hastings;

Law Firms: Cleary Gottlieb Steen & Hamilton; Mijares, Angoitia, Cortés y Fuentes, S.C.; Paul Hastings;

Clients: Barclays Capital ; Goldman Sachs; Morgan Stanley; Operadora de Servicios Mega, S.A. de C.V., SOFOM, E.R;

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Author: Ambrogio Visconti