Manuel Silva

Cleary assists Nelo on $100m loan

Cleary Gottlieb has assisted Nelo, in its capacity as borrower, in a $100,000,000 USD senior secured loan facility with certain funds managed by Victory Park Capital, acting as lenders.

This transaction was closed on 1 August, with the first disbursement under the facility occurring on 11 August.

Nelo is a startup founded by former leaders of Uber’s international growth team and has been offering buy now, pay later services in Mexico since 2019.

Cleary’s finance team was led by partner Manuel Silva (pictured) and included associate Natalia Rezai and international lawyer Maria Fernanda Ibarguengoitia Lira. Counsel Matt Brigham and associate Samuel Kramer advised on tax matters. Partner Clayton Simmons advised on securities-backed credit facilities matters. Senior attorney Victor Chiu advised on secured transactions matters. Partner Liz Dyer and associate Julia Brownstein advised on ERISA matters.

Cleary assists Nelo on $100m loan

L Giselle Estrada

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