Ritch Mueller represents two banks in $2m MXN loan to RCO
Ritch Mueller has advised BBVA and Banco Sabadell on credit in favour of Red de Carreteras de Occidente
Mexican law firm Ritch Mueller has represented banks BBVA and Banco Sabadell in granting a loan of up to MXN2 billion to Red de Carreteras de Occidente, secured by cash flows from the operation of its highways.
The syndicated loan has a total term of six years, which will be revolving during the first four years, and will subsequently have an amortisation schedule during the last two years of the loan, informed BBVA Mexico, which acted as structurer and agent for the transaction.
The loan also includes a sustainability indicator aimed at reducing the company’s energy intensity (KWh) from non-renewable sources per kilometre of road operated.
Red de Carreteras de Occidente is the company that operates the network of highways and roads that connects the West with the Bajío and Central Mexico. It is one of the most important networks in Mexico and forms the backbone of communication routes in the central-western region of the country, serving as the country’s most important industrial corridor (El Bajío) and the two largest cities, Mexico City and Guadalajara.
Ritch Mueller’s team was led by partner Gabriel del Valle Mendiola (pictured left), in conjunction with associate Natalia Deschamps Ramírez (pictured right).
