Holland & Knight Advises Banco Multiva on $18 Million Loan to Mexican State of Chihuahua

MEXICO CITY (July 15, 2020) – Holland & Knight Partner Alejandro Landa Thierry and Associate Rosa María Cuevas advised Banco Multiva on two loans to the Mexican State of Chihuahua through the Ministry of Finance of an aggregate amount of MXN$400 million (approximately US$18 million). The transactions closed on July 10.

Banco Multiva was selected as the lender to the State of Chihuahua through a competitive bidding process. The loans will be used to cover short-term needs such as temporary liquidity shortfalls in terms of Article 31 of the Law on Financial Discipline of the Federative Entities and Municipalities due to the COVID-19 pandemic.

"We are glad to be able to assist Banco Multiva and the State of Chihuahua on a transaction that was urgent and had to close quickly due to the effect the pandemic has had on the State's finances," said Mr. Landa Thierry.