Banking & Finance
The recent development of the Mexican economy has created the necessity for Mexican companies to raise funds from different sources, something which has resulted in the development of the Mexican financial system and has turned Mexico into an attractive destination for the placing of foreign funds by foreign financial institutions and private equity funds. Basham, Ringe y Correa has broad experience and offers several services in the financial, banking, and securities sector to domestic and foreign financial institutions, private and public companies, and private equity funds.
The Practice Group offers the following services in these area, among others, advising on:
- The structuring, negotiating, and documenting of loans and other financial transactions, including venture capital and lease financing.
- The creation of security interests such as mortgages, pledges and guarantee trusts, as well as the creation of personal guarantees.
- Due diligence reviews on financial matters of local corporate borrowers in connection with financing and security interests.
- Syndicated loans.
- Local and international loans and financing.
- Debt restructuring.
- The organization, legal auditing, and regulatory compliance of financial entities, including banks, mutual funds, multi-purpose financial institutions (SOFOMES), securities brokers and dealers, insurance companies, bonding companies, and Mexican affiliates of foreign financial institutions.
- The registration of banks and financial, insurance and re-insurance companies and their representative offices.
- Investment and financing by private equity funds.
- Initial public offerings and private offerings.
- Regulatory compliance and corporate governance of public issuers.
- Registration with the National Registry of Securities and the International Quotation System.
- Issuing shares, bonds, debentures and commercial paper.
- Portfolio securitization, asset backed securities (CDO) and structured credit products.
- Project finance.
- ALegal risk auditing to Banks and other financial institutions.
During the last years, Basham, Ringe y Correa has taken part in the following Financing Transactions, among others:
- A trust was incorporated for the construction of a Real Estate Development located in Polanco, Mexico City, consisting in 162 departments. The value of the transaction was approximately US$160,000,000.00 (one hundred and sixty million dollars).
- Structuring of loans granted by Global Partnership to a microfinance entity named Fundación Realidad, A.C.
- Assist Ford Motor Company in a non-leverage buy out financing in an amount of US$18,485,000,000.00. This transaction included creating security interests on Mexican collateral.
- Assist Barclays Bank PLC as administrative agent for a syndicate of lenders in a refinancing of loans to CEMEX in an amount of US$400,000,000.00.
- Assist the Canadian Imperial Bank of Commerce as administrative agent for a syndicate of lenders in the creation of security interest on Mexican collateral of the Mexican subsidiaries of Hayes Lemmerz to secure financing in the amount of US$200,000,000.00.
- Assist Goldman Sachs as administrative agent for a syndicate of lenders in a financing to Energy Maintenance Services Group up to the amount of US$16,000,000 including creating security interest on Mexican collateral.
- Assist Jefferies Finance LLC as administrative agent for a syndicate of first lien lenders and Crystal Capital Fund LP as administrative agent for a syndicate of second lien lenders in the creation of security interest by the Mexican subsidiaries of an international company engaged in the automotive spare part business on Mexican collateral, including mortgages, stock pledges, and asset pledges to secure financing up to the amount of US$80,000,000 and US$16,250,000 respectively.
- Counseled Dallas City Bank on the structuring of a loan of $2'500,000.00 dollars to finance the acquisition of several condominium units in Playa Del Carmen, Mexico, including creating security trust and stock pledges.
- Assist Dnb Nor Bank ASA Implementation and negotiation of Mexican collateral given by Simrad Yacthing AS´ Mexican subsidiaries to Dnb Nor Bank ASA under a credit facility in the amount of US$300,000,000.00.
- Assistance in the implementation of Mexican collateral deriving from a credit facility granted by Comerica Bank to Diversa Corporation.
- The purchase of Logistics Acquisition Holdings, Inc., Amports Inc. and their Mexican subsidiaries (the largest port-side automobile processing company in North America) by a subsidiary of AIG Global Investment Corp (Highstar Harbor Holdings II, Inc.), including advice in a senior secured financing for $270,000,000.00 granted by Citigroup to fund such acquisition.
- Advise Bank of Tokyo Mexico.