Ternium Brasil $500 Million Syndicated Loan

Mitrani Caballero & Ruiz Moreno, Veirano, Elvinger Hoss Prussen, Milbank, Machado Meyer and Bonn & Schmitt advised on the transaction

On August 9, 2019, a syndicate of financial institutions arranged by Bank of America, N.A., BBVA Securities Inc., BNP Paribas Securities Corp. and Crédit Agricole Corporate and Investment Bank (also acting in its capacity as Administrative Agent) entered into a 5-year term senior unsecured loan agreement for an aggregate amount of $500 million with Ternium Brasil – a Brazilian subsidiary of Ternium S.A. – to finance Ternium Brasil’s activities related to its exports of goods.

The Facility is governed by New York law and is guaranteed by Ternium pursuant to a Guaranty Agreement between Ternium and the Administrative Agent for the benefit of the lender parties.

The Facility constitutes a Pré-pagamento de Exportacão (pre-export finance) in accordance with Brazilian law.

The Facility contemplates several disbursements, which Ternium Brasil may request during a 6-month period. The tenor of the Facility is five years, with six equal monthly repayments commencing on the 55th month following the Effective Date.

Mitrani Caballero & Ruiz Moreno: acted as international lead counsel to Ternium and Ternium Brasil with Diego Parise (Picture), Natalia Rauchberger, Belén Justiniano and Dolores Acosta Miguens.

In Brazil, Veirano advised Ternium Brasil on Brazilian law with Marcelo Ribeiro Mattos, Elisa Rezende and Maria Julia Carvalho Pinto.

Elvinger Hoss Prussen advised Ternium on Luxembourg law with Toinon Hoss, Namik Ramic and Marine Perrin-Terrin.

Milbank advised the Administrative Agent and the Lenders with Carlos Albarracín, Andrés Osornio, Oscar Vazquez, Gonzalo Guitart and Ana Bueno.

Machado Meyer advised the Administrative Agent and the Lenders on Brazilian law matters with Rafael Carretero and Ivo Bocaiuva.

Bonn & Schmitt advised the Administrative Agent and the Lenders on Luxembourg law matters with Alex Schmitt, Laurent Henneresse and Nicolas Widung.

Involved fees earner: Laurent Henneresse – Bonn & Schmitt; Alex Schmitt – Bonn & Schmitt; Nicolas Widung – Bonn & Schmitt; Toinon Hoss – Elvinger Hoss Prussen; Marine-Océane Perrin-Terrin – Elvinger Hoss Prussen; Namik Ramic – Elvinger Hoss Prussen; Rafael Carretero – Machado Meyer Advogados; Carlos Albarracín – Milbank; Ana Bueno – Milbank; Gonzalo Guitart – Milbank; Andres Osornio Ocaranza – Milbank; Oscar Vazquez – Milbank; Dolores Acosta Miguens – Mitrani Caballero & Ruiz Moreno; Belén Justiniano – Mitrani Caballero & Ruiz Moreno; Diego Parise – Mitrani Caballero & Ruiz Moreno; Natalia Rauchberger – Mitrani Caballero & Ruiz Moreno; Marcelo Mattos – Veirano Advogados; Elisa Rezende – Veirano Advogados;

Law Firms: Bonn & Schmitt; Elvinger Hoss Prussen; Machado Meyer Advogados; Milbank; Mitrani Caballero & Ruiz Moreno; Veirano Advogados;

Clients: Bank of America; BBVA Securities Inc.; BNP Paribas Securities; Crédit Agricole Corporate and Investment Bank; Ternium Brasil; Ternium SA;

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Author: Ambrogio Visconti.