MEXICO CITY (June 12, 2020) – Holland & Knight represented Banco Santander México, S.A., Institución de Banca Múltiple in the restatement of a term loan of US$210 million in favor of Magaluf, S.A. de C.V., the operator of The Pyramid at Grand Oasis Cancún and Oasis Cancún Lite hotels in Quintana Roo, Mexico. Holland & Knight had also represented Santander in the initial structuring and closing of the deal in January 2018.
The term loan remained structured as a syndicate club deal. Santander acted as arranger, administrative agent and lender. The following financial institutions constitute the syndicate of lenders: Santander, BBVA Bancomer, S.A., Institución de Banca Múltiple, Banco Nacional de México, S.A., Integrante del Grupo Financiero Banamex, Banco Monex, S.A., Institución de Banca Múltiple, and Sabcapital, S.A. de C.V., SOFOM, ER.
The transaction closed on June 10.
Holland & Knight Partner Alejandro Landa Thierry and Associate Aldo González Melo handled the transaction representing Santander and the syndicate team.
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