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Press Release by Paul Hastings
New York - Paul Hastings LLP, a leading global law firm, announced that it represented Citigroup Global Markets Inc., as lead arranger and bookrunner, in a senior secured credit facility extended to Grupo Industrial Saltillo, S.A.B. de C.V., with Banco Nacional de México, S.A., Integrante del Grupo Financiero Banamex, División Fiduciaria, as administrative agent, HSBC Bank USA, National Association as collateral agent, and a group of ten other lenders including Santander, The Bank of Nova Scotia, Comerica, HSBC and BBVA.
The loan involved collateral governed under Spanish law. Grupo Industrial Saltillo is a leading Mexican conglomerate founded in 1928, with operations in Mexico, Spain, the Czech Republic, Poland, Italy, and China, as well as a marketing and distribution presence in the USA, that manufactures and markets products for the industries of auto parts (grey and ductile iron and aluminum castings and machining for brake, engine, transmission and suspension systems), construction (flooring in ceramic and porcelain, water heaters and pipe fittings in plastic and iron) and housewares (a wide range of kitchenware, tableware and counter-top kitchen appliances).
GIS is a leading Mexican industrial conglomerate.
The $300 million senior secured term loan and revolving credit facility is being used to refinance the loans related to the company's acquisitions in Europe and Asia during 2015 and 2016.
Latin America partners Michael Fitzgerald, Joy Gallup, Steven Sandretto, associate Eduardo Gonzalez and foreign associate Laura Dinora Martinez led the Paul Hastings team, which also included tax partner Andrew Short and tax associate Stephen Grace.
At Paul Hastings, our purpose is clear - to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world's most innovative global law firms.