Kuri Breña assists Bancomext with Iacna financing
Mexican law firm Kuri Breña, Sánchez Ugarte y Aznar has assisted the country’s foreign trade bank Bancomext on the granting of a $34 million financing to Iacna México and Iacna Hermosillo, an automotive components manufacturer.
The loan is to be used to finance the working capital of the borrowers and their affiliates, including purchase of inputs, payment of expenses, financing of term sales, debt refinancing, payment of taxes and other liabilities, or general corporate purposes, investments, and capital investments, the law firm said.
The payment of the financing was agreed through a structured mandate agreement with Santander México and guaranteed by the mortgage of two production plants, in Monterrey and Toluca, property of Iacna México, and the joint obligation of two affiliate companies based in Luxembourg.
Kuri Breña, Sánchez Ugarte y Aznar’s team was led by partner Bernardo Luna (pictured) and included associate Rodrigo Velázquez
