Televisa’s $950 Million Cross-Border Syndicated Loan

Paul Hastings LLP represented HSBC Mexico S.A., as sole lead arranger and bookrunner, HSBC Bank USA, N.A. as administrative agent, and a group of lenders consisting of HSBC Mexico, BBVA Bancomer S.A., Banco J.P. Morgan S.A., Banco Santander (Mexico) S.A., Bank of Tokyo-Mitsubishi UFJ (Mexico), S.A., and Mizuho Bank of Mexico, S.A., in the first cross-border New York law-governed revolving credit facility extended to Grupo Televisa, S.A.B.

The “Dollar denominated Peso-pay” facility is initially committed in the amount of the Mexican peso-equivalent of $583 million and contains an accordion feature that allows for an increase in the borrowings of up to the Mexican peso-equivalent of $375 million, for a total amount of more than $950 million.

Grupo Televisa S.A.B., operates media and entertainment businesses in the Spanish speaking world. The company, led by Alfonso De Angoitia Noriega, Bernardo Gomez Martinez and Isaac Lee, in 2017 recorded $5.2 Billion Revenues.

Paul Hastings advised the banks with a team including Joy Gallup and Michael Fitzgerald, associate Eduardo Gonzalez and law clerk Hannah Kropp (Banking & Finance) Andrew Short, David Makso and Stephen Grace (Tax).

Involved fees earner: Joy Gallup – Paul Hastings; Michael Fitzgerald – Paul Hastings; Eduardo Gonzalez – Paul Hastings; Andrew Short – Paul Hastings; David Makso – Paul Hastings; Stephen Grace – Paul Hastings;

Law Firms: Paul Hastings;

Clients: HSBC; JP Morgan; Mizuho; Banco Santander Sa; Bank of Tokyo Mitsubishi UFJ; BBVA Bancomer; HSBC Mexico SA;

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Author: Ambrogio Visconti