Cleary Gottlieb has represented Vitro and its Mexican and U.S. subsidiaries in a $490 million term loan with Banco Mercantil del Norte, Grupo Financiero Banorte, BBVA Mexico, Grupo Financiero BBVA Mexico, and The Bank of Nova Scotia, the latter entities advised by Greenberg Traurig.
This transaction was signed on 28 September 2023 and the facility was closed and fully disbursed on 3 October 2023. As a result, Vitro successfully refinanced all of its short-term debt and a substantial portion of its long-term debt.
Vitro is a glass manufacturer with more than 100 years of experience in the market, with a presence in Mexico and subsidiaries throughout the Americas, Europe and Asia.
GT Law’s team comprised shareholder David Argueta and associate Rodolfo Flores.
Cleary’s corporate team included partners Chantal Kordula (pictured left) and Manuel Silva (pictured right), associates Kiki Manzur and Martin Sasson, and international lawyer Mariana Avila Macazaga. Counsel Matthew Brigham and associate Adriana De Bartolo provided tax advice. Partner Michael Mazzuchi and associates Amber Phillips and Ben Rosenblum provided Investment Company Act advice. Partner Elizabeth Dyer provided ERISA advise. All lawyers are based in New York except Michael Mazzuchi, Amber Phillips, and Ben Rosenblum, who are based in Washington, D.C.