Axtel, S.A.B. de C.V. Enters into USD 210 Million Syndicated Credit Agreement

Leading global law firm Baker McKenzie announced today that the New York office represented Axtel, S.A.B. de C.V., a Mexican information and communication technology company, in connection with its senior unsecured credit agreement. Scotiabank Inverlat S.A. Institución de Banca Múltiple, Grupo Financiero Scotiabank Inverlat, served as administrative agent and Banco Mercantil del Norte, BBVA México, HSBC México and The Bank of Nova Scotia served as joint lead arrangers and joint book runners.

The credit agreement contemplates both a term loan and a revolving credit facility, each with both US Dollar and Mexican Pesos tranches. The proceeds of the term loan will be used to refinance existing indebtedness and the proceeds under any revolving loans will be used for general corporate purposes and working capital requirements.

Transactional Practice Group partners Mike Fitzgerald and Steven Sandretto led the Baker McKenzie team, which also included associate Alejandra Cuadra and Tax senior counsel Thomas May.

Other law firms participating in this transaction included A&O Shearman (as US counsel to the administrative agent and lenders) and Ritch Mueller (as Mexican counsel to the administrative agent and lenders).