01/12/2018 | Press release | Distributed by Public on 01/12/2018 16:22
MEXICO CITY (January 12, 2018) - Holland & Knight recently advised Banco Multiva on significant loans to the Mexican states of Veracruz and Morelos.
Banco Multiva issued a MXN$5 billion (US$250 million) loan to the state of Veracruz as part of a MXN$46 billion (US$2.3 billion) financial reorganization. The loan, which closed on Nov. 14, was granted using a new structure involving a Public Master Trust and a Mandate to the Ministry of Finance and Public Credit.
Banco Multiva also loaned MXN$838.5 million (US$40 million) to the state of Morelos. The transaction closed on Dec. 18.
Both 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 states through competitive bidding processes.
Holland & Knight Mexico City-based Partner Alejandro Landa Thierry led the firm's representation of Banco Multiva with the assistance of Associate José Luis Villareal and Paralegal Gerardo Rotzinger.