New international deals led by our Banking & Finance area
Mitrani Caballero & Ruiz Moreno Abogados acted as international counsel to Ternium Group, in connection with a US$100 million term bilateral facility granted by Banco Bilbao Vizcaya Argentaria, S.A. New York Branch to Ternium Brasil Ltda. The transaction was effective on June 28th 2024, and the first disbursement of loans was completed on July 1, 2024. The proceeds of the loans will be used to finance the Borrower’s exports of goods and services from Brasil in accordance with applicable Brazilian export financing regulation and requirements under the SCE-Crédito Module.
Ternium Investments Sarl, which indirectly holds 100% of Ternium Brasil’s shares, provided a corporate guarantee securing Ternium Brasil’s obligations under the credit agreement.
Both the loan agreement and the corporate guarantee are governed by New York law and subject to New York courts.
Our firm’s team for the transaction:
Lead Partner: Mercedes Rodríguez Giavarini
Senior Associate: Carolina Villar Freuler
Other law firms involved in the transaction:
Counsel to Ternium
Brazil: in-house counsel: Guilherme Fonseca Alcure and Matheus Fonseca Santana Da Silva
Counsel to BBVA
U.S.: Milbank LLP: partner Carlos Albarracin, special counsel Andres Osornio, and associate Agustin Videla
Brazil: Machado Meyer Advogados: partner Rafael Carretero and Associate Alexandre Teixeira Filho
Luxembourg : A&O Sherman: partners Marc Tkatcheff and Frank Mausen; and associates Christine Laux, Giacomo Benincasa and Max Sassel
