Holland & Knight Advises Banco Multiva on $150 Million Loan to Mexican State of Nuevo Léon
MEXICO CITY (January 20, 2022) – Holland & Knight Partner Alejandro Landa Thierry and Associate Gerardo Rotzinger Rodríguez advised Banco Multiva on a loan to the Mexican State of Nuevo Léon through the Ministry of Finance for an aggregate amount of MXN$3,680 million (approximately US$150 million). The transaction closed in November 2021.
Banco Multiva was selected as lender to the state of Nuevo León through a competitive bidding process. As a result of the loan, the State of Nuevo León was able to obtain better conditions on its financial obligations and public debt.
Holland & Knight advised Banco Multiva throughout the bidding process and assisted with the review of the loan structure and the negotiation of the loan documentation. The refinancing loan includes a grace period for the payment of principal and interests, allowing the State of Nuevo León to have enough resources and flexibility for payment, and deal with liquidity problems caused by the COVID-19 pandemic.