Mitrani Caballero advised Ternium México on the structuring of a US$1.25 billion syndicated green loan
Our firm acted as international counsel to Ternium México in connection with the structuring, negotiation and execution of a US$1.25 billion green loan. The transaction was a significant cross-border operation aligned with the most recent global sustainability standards.
The loan, granted to this leading steel industry company, was provided by a syndicate of international banks composed of BNP Paribas, Citigroup Global Markets, Inc., Crédit Agricole Corporate and Investment Bank, Intesa Sanpaolo S.p.A. New York Branch, JPMorgan Chase Bank, N.A., Mediobanca International (Luxembourg) S.A., and Natixis New York Branch, who acted as joint lead arrangers and joint bookrunners. Crédit Agricole Corporate and Investment Bank served as administrative agent.
“Coordinating the interests of multiple stakeholders across different jurisdictions, while ensuring compliance with the Green Loan Principles of the Loan Market Association (LMA) and an evolving regulatory framework, posed unique challenges,” noted Mercedes Rodríguez Giavarini, partner in charge of the transaction. “Navigating these complexities required close coordination to successfully structure a loan that supports Ternium’s ambitious sustainability goals,” she added.
The proceeds will enable the company to invest in the design, construction, operation and maintenance of a new steelmaking facility located in the Industrial Center of Pesquería, Mexico. A portion of the loan will also be allocated to fund and/or refinance capital investments, operating expenses, and research and development initiatives.
“We are proud to have contributed to a financing that sets a benchmark for green investments in the region,” highlighted Rodríguez Giavarini. She was joined in the transaction by senior associate Carolina Villar Freuler and junior associate Carolina Wetzler.
The successful closing of this transaction once again demonstrates our ability to provide comprehensive legal advice with a global perspective and a deep understanding of international standards
