Monday 18 December 2017
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Jones Day instructed on railroad financing in Mexico

Jones Day advised BBVA Bancomer as administrative agent, and BBVA Securities and Credit Suisse Securities as joint lead arrangers on a $1.55 billion loan to GMéxico Transportes. 

GMexico Transportes is the largest railroad company in Mexico and operates as a subsidiary of Grupo México, the mining company.

The $1.55 billion financing was structured as a NY law-governed unsecured bridge loan agreement, with GMexico Transportes as borrower and Ferrosur as joint obligor

Along with the US$250 million Mexico law-governed loan provided by Santander, this bridge financing will also be used for the acquisition of Florida East Coast. The latter operates a freight rail system along the east coast of Florida.

Partner Alberto de la Parra led the Mexico City tean acting for the banks. He joined the firm in 2013 from a role as General Counsel of Grupo México.

The lenders instructed Skadden for the documents under New York law.

Galicia Abogados and Dechert advised GMéxico Transportes for documents related to Mexican and New York law respectively.

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