Paul Hastings acts for Mexico’s Mega on inaugural bond issue

Paul Hastings has represented Operadora de Servicios Mega, a Mexican speciality finance company headquartered in Guadalajara, in its inaugural international bond offering.

The offering involved the issuance of $350 million of 8.250 per cent senior notes due 2025 pursuant to Rule 144A and Regulation S. The underwriters involved were Barclays, Goldman Sachs and JP Morgan.

Paul Hastings attorneys had previously represented Mega in a bridge loan from Barclays for $35 million in December 2019. A portion of the proceeds of the senior notes offering was used to repay that loan.

Mega has more than 15 years of operating experience, focused on leasing and commercial lending to small and medium-sized enterprises in Mexico. It provides financing solutions in connection with the purchase of manufacturing, industrial and transportation equipment and other capital assets used in a variety of industries in Mexico. This non-bank finance company serves an important role in providing lease financing to small companies that are underserved by traditional banks.

Latin America practice partners Mike Fitzgerald (pictured), Joy Gallup and Arturo Carrillo led the Paul Hastings team in these transactions, which also included of counsel Pedro Reyes, associate Eduardo Gonzalez and foreign associate Jose Pellon.