Vitro SAB de CV’s $700 Million Syndicated Loan


Cleary Gottlieb Steen & Hamilton, Kuri Breña, Sánchez Ugarte y Aznar, Skadden and Greenberg Traurig advised on the transaction

Cleary Gottlieb represented Vitro, S.A.B. de C.V., the leading Mexican glass manufacturing company, and certain of its subsidiaries, Vitro Flat Glass LLC, Vitro Automotive Glass LLC, and various subsidiary guarantors, in a $700 million unsecured term loan credit facility.

Vitro Flat Glass and Vitro Automotive Glass are the co-borrowers under the term loan credit facility, and Vitro, S.A.B. de C.V. and the subsidiary guarantors act as guarantors. The facility will mature on October 5, 2023.

BBVA Bancomer, S.A. and HSBC México S.A. acted as lead manager and arrangers on the transaction.

The proceeds of the credit facility will be used to repay in full and terminate all outstanding indebtedness of Vitro Flat Glass and Vitro Automotive Glass under their existing credit agreements and pay fees and expenses associated with the transaction, with any remainder used for general corporate purposes. The new facility was entered into on June 29, 2018.

Cleary Gottlieb Steen & Hamilton advised Vitro SAB de CV. with Duane McLaughlin (Picture), Michael Albano, Paul Marquardt, Rick Bidstrup, Derek Wallace, Elizabeth Freedman, Alexander Eaton, David Fisher, Nathanael Kurcab, Mandeep Kalra and Edward Crane.

In Mexico, Kuri Breña, Sánchez Ugarte y Aznar advised Vitro SAB de CV. with Daniel Kuri Breña, Miguel Ángel Vallejo, Alfonso Alfaro and José Domingo Pérez Galindo.

Skadden advised BBVA Bancomer, S.A. and HSBC México S.A. with Alejandro González Lazzeri, Pamela Lawrence Endreny, Alejandro Ascencio and Ryan Rott.

In Mexico, Greenberg Traurig advised advised BBVA Bancomer, S.A. and HSBC México S.A. with José Raz Guzmán, David Argueta and Enrique Rugerio.

Involved fees earner: Daniel Kuri Breña Romero de Terreros – Kuri Breña Sánchez Ugarte y Aznar; Miguel Angel Vallejo Guerra – Kuri Breña Sánchez Ugarte y Aznar; Alfonso Alfaro – Kuri Breña Sánchez Ugarte y Aznar; José Domingo Pérez Galindo – Kuri Breña Sánchez Ugarte y Aznar; José Raz Guzmán – Greenberg Traurig; David Argueta – Greenberg Traurig; Alejandro Gonzalez Lazzeri – Skadden Arps Slate Meager & Flom; Alejandro Ascencio – Skadden Arps Slate Meager & Flom; Pamela Lawrence Endreny – Skadden Arps Slate Meager & Flom; Ryan Rott – Skadden Arps Slate Meager & Flom; Duane McLaughlin – Cleary Gottlieb Steen & Hamilton; Elizabeth Freedman – Cleary Gottlieb Steen & Hamilton; Nathanael Felix Kurcab – Cleary Gottlieb Steen & Hamilton; Mandeep Kalra – Cleary Gottlieb Steen & Hamilton; Michael Albano – Cleary Gottlieb Steen & Hamilton; Alexander Eaton – Cleary Gottlieb Steen & Hamilton; Paul Marquardt – Cleary Gottlieb Steen & Hamilton; Richard Bidstrup – Cleary Gottlieb Steen & Hamilton; Derek Wallace – Cleary Gottlieb Steen & Hamilton; David Stewart Fisher – Cleary Gottlieb Steen & Hamilton;

Law Firms: Kuri Breña Sánchez Ugarte y Aznar; Greenberg Traurig; Skadden Arps Slate Meager & Flom; Cleary Gottlieb Steen & Hamilton;

Clients: BBVA Bancomer; Vitro, S.A.B. de C.V.; HSBC Mexico SA;

Author: Ambrogio Visconti