HERNÁNDEZ & CÍA. ABOGADOS ADVISED GTM HOLDINGS S.A. IN A SYNDICATED FINANCE FACILITY OF US$ 150 MILLIONS

Hernández & Cía. Abogados advised GTM Holdings S.A. in a syndicated finance facility of US$ 150,000,000.00 granted by a syndicate of banks led by Citibank, N.A. The advisory of Hernández & Cía. Abogados consisted in negotiating and preparing the local guarantees that were granted by Corporación GTM del Perú S.A., the Peruvian subsidiary of GTM Holdings S.A., conformed by a pledge agreement over bank accounts and a conditional assignment agreement over receivables.
The credit agreement was executed under New York law, while local guarantees granted by GTM Holdings S.A.’s subsidiaries in eleven countries were executed under their respective laws.
GTM Holdings, S.A. was founded in 1983 in Guatemala. Since then, the company has grown both organically and through acquisitions to become one of the largest distributors of chemicals in Latin America. GTM Holdings S.A. provides chemicals and logistics services in a range of industries from personal care to oil exploration through to more than 12 countries, including Brazil, Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panamá, Colombia, Ecuador, Peru and Argentina.

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