Holland & Knight represents Banco Santander México in $100m Cydsa loan
Holland & Knight has represented Banco Santander México in the granting of a revolving line of credit for $2.4 billion pesos ($100 million) for local comany Cydsa.
Cydsa is a public company focused on the production of chemical and specialty products, electricity and steam generation and processing and underground storage of hydrocarbons based in Nuevo León state.
The revolving loan was structured as a syndicate club deal. Santander acted as arranger, administrative agent and lender. The following financial institutions joined the lenders’ syndicate: Banco Mercantil del Norte, Grupo Financiero Banorte, Scotiabank Inverlat, Grupo Financiero Scotiabank Inverlat and Sabcapital.
The proceeds of the loan will be used to inject liquidity into Cydsa’s operations and repay existing mid-term debt obligations.
Holland & Knight Mexico-based partner Alejandro Landa Thierry (pictured) and associates Aldo González Melo and Luis González Rico handled the transaction, representing Santander and the syndicate team.
