MEXICO CITY (March 1, 2017) – Holland & Knight advised Banco Multiva in two loans to the Mexican state of Nuevo Leon for a combined amount of MXN$2.3 billion (US$115 million) as part of a MXN$42.7 billion (US$2.1 billion) financial reorganization.
The loans were granted pursuant to the new law on financial discipline for federal entities and municipalities (Ley de Disciplina Financiera de las Entidades Federativas y los Municipios).
Banco Multiva was selected as lender to the state of Nuevo Leon through two competitive bidding processes. Nuevo Leon is the first Mexican state to have an independent governor.
Holland & Knight Mexico City-based Partner Alejandro Landa Thierry led the firm's representation of Banco Multiva with the assistance of Associates José Luis Villareal and Sofía Jiménez.