Gonzalez Calvillo, September 8th, 2023 .- We acted as legal counsel to Accial Capital Management LLC, as agent, in the USD$40,000,000.00 financing to Kapital – a multi-service innovative financial company in Mexico with a focus on, among others, SMEs, supplier loans, and corporate credit cards, to fund its loan portfolio origination.
The deal was relevant given that it showcases the continued appetite for foreign and domestic funds to structure “warehousing” facilities in favor of innovative and disruptive Mexican companies, especially in the fintech sector. This is an interesting and appealing trend in the Mexican market.
As for the legal-side of the deal, it is always challenging to have a cross-border (dual-jurisdictional) deal, in which all documents and business and legal arrangements must be implemented conforming different concepts from foreign law into a Mexican-law governed transaction.
As per documentation, it was necessary to implement an intrinsic collateral package, which – as is customary in “warehouse” facilities in Mexico – is bankruptcy remote.
The Corporate Finance team was led by our partner José Ignacio Rivero Andere along with associates Jacinto Ávalos Capin and Luis Ernesto Brieño Jiménez.
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