Cleary Gottlieb acts for Credit Suisse in $350m Bio Pappel loan

Cleary Gottlieb represented Credit Suisse in its role as administrative agent, joint bookrunner and joint lead arranger for a $350 million senior secured guaranteed term loan facility to Mexican paper manufacturer Bio Pappel. 



The loan is secured by pledges of certain properties, equipment and shares of Bio Pappel and its affiliates, and is guaranteed by Bio Pappel’s subsidiaries. The proceeds of the loan were used to refinance the company’s existing debt.  
 
Bio Pappel is the largest manufacturer of paper and paper products in Latin America, producing 1.5 million tonnes of products per year, and which include stationery and packaging.

The company has manufacturing plants in the states of Michoacán, Querétaro, Veracruz and Mexico, and has a presence in Colombia and the US.
 
Cleary Gottlieb’s corporate and finance team included partner Adam Brenneman, associate Miguel Alvarez Malvido, and law clerk Laura Daugherty.  Counsel Penelope Christophorou and associate Jeffrey White advised on UCC issues, while associates Anthony Thomas Yanez and Cécile Marrioti advised on tax issues.

All the lawyers on the team are based in New York.