GICSA closes two refinancings and eyes delisting

Grupo GICSA, a Mexican real estate company focused on shopping malls and mixed-use assets, has executed two significant refinancing transactions and initiated a voluntary tender offer process targeting a potential delisting from the Mexican Stock Exchange.

The operations were coordinated internally by José Manuel Zavala Barrenechea (pictured), head of legal for capital markets and financing, and Raúl Reyes Sánchez, financing manager, marking a notable expansion of the company’s in-house legal capabilities in sophisticated capital markets matters.

Grupo GICSA closed a USD 150 million refinancing connected to Arcos Bosques, one of its flagship corporate and mixed-use complexes in Mexico City, through a syndicated facility led by Banco Santander, which acted as lender, administrative agent and collateral agent. Mijares, Angoitia, Cortés y Fuentes advised Santander on the transaction, while Robles Miaja provided external legal support to GICSA.

GICSA also closed a USD 100 million refinancing governed by New York law in connection with Capital Reforma, a mixed-use development situated on Paseo de la Reforma — one of Mexico City’s key corporate and financial corridors — with MetLife acting as institutional lender. Nader, Hayaux & Goebel advised MetLife on Mexican law matters, while Hunton Andrews Kurth advised on New York law matters. The structure was designed to optimize the asset’s financial profile and preserve corporate flexibility.