Gruma, S.A.B. de C.V. Obtains $400 Million Term and Revolving Credit Facility
Paul Hastings LLP, a leading global law firm, represented Gruma, S.A.B. de C.V., the world's largest tortilla and corn flour producer in a $400 million term and revolving credit facility. The facility was provided by a syndicate of banks, with Banco Nacional de Mexico, S.A. Integrante del Grupo Financiero Banamex, Bank of America, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Cooperatieve Rabobank U.A., JPMorgan Chase Bank and the Bank of Nova Scotia as joint lead arrangers. The proceeds will be used to for the payment of existing indebtedness, working capital financing and for other general corporate purposes. Paul Hastings has previously advised Gruma on a number of transactions, including a $400 million international bond offering and the redemption of likely the only corporate perpetual bond ever issued in Mexico.
Latin America practice partners
Paul Hastings attorneys also recently advised on the $912 million international IPO of Jose Cuervo, the $750 million bond offering for Banco Inbursa, represented Sigma Alimentos, S.A. de C.V., on a €600 debt issuance and Mexican automotive part manufacturer Nemak in a €500 million debt issuance, and advised on two notable out-of-court debt restructuring deals for Arendal, S.A. and Industrias Unidas, S.A.. The practice was also recognized by LatinFinance for
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