Mexico City, May 20th 2022 – Grupo Crédito Maestro (“Crédito Maestro”), a leader in the payroll financing industry in Mexico, successfully completed today the execution of a credit facility for an amount of MXN$ 150 million granted by CI Banco. This transaction aims to support the financing of the loan portfolio of Crédito Maestro’s subsidiaries. Gonzalez Calvillo (“GC”) advised Crédito Maestro as borrower.
Crédito Maestro is a 100% Mexican company founded in 2002, devoted to granting cash loans to Mexican government workers, pensioners, and retirees, offering them the benefit of payment through payroll deduction. Every year, Crédito Maestro generates more than MXN$2 million in loan portfolios. CI Banco is one of the leading banks in the country, particularly in trustee services.
Commenting on this transaction, Crédito Maestro’s CEO Gerardo Fernández Mena stated “At Crédito Maestro we are pleased to have CI Banco and Gonzalez Calvillo as allies in supporting our mission of helping our clients and employees have a better life”.
The formal negotiations for the implementation of the financing in this transaction were carried out in record time, thereby adding a high level of complexity to the structuring of the various contracts involved, such as a credit agreement, a management services agreement, and a master management services agreement, as well as the required collateral package in the form of an administration, source of payment and security trust.
The GC team was led by José Ignacio Rivero (Partner) and also included Jacinto Ávalos Capín (Senior Associate), Luis Ernesto Brieño Jiménez (Associate) and Dalia Stofenmacher (Law Clerk).
Read the PDF version here.
NOTE TO EDITORS
For 35 years, Gonzalez Calvillo has been at the forefront of the legal market in Mexico as a full-service leading law firm due to its transactional core and expertise in a wide range of practice areas. The firm is recognized for its ability to build cross-disciplinary teams for the most complex legal challenges and long track record of successfully providing groundbreaking business and regulatory advice to high-profile domestic and international companies. Often described as a pioneer of the Mexican legal services industry, the firm is known for its commitment to doing things differently, bespoke solutions, and creating transformational legal changes that enable clients achieving their objectives. For more information, please visit www.gcsc.com.mx.
