Client or Matter Name
Fasanara Capital –a leading institutional asset manager and a fintech investing pioneer based in the United Kingdom.
Deal Description
We acted as legal counsel to Fasanara Capital, as lender, in the USD$100,000,000.00 “warehouse” facility granted to Plata – an innovative financial company in Mexico in the Fintech sector – as borrower.
The facility, among others, will be used by Plata Card to fund its credit card loan origination in México.
Innovation & Additional Comments
This deal represents the continued and compelling surge of interest from both foreign and domestic funds in Mexico's thriving "warehouse" facilities sector, particularly those intertwined with Mexican Fintech companies.
This trend not only underscores the dynamism of the Mexican financial market but also showcases exciting alternatives to conventional funding avenues.
At González Calvillo, we take pride in our role as trailblazers in structuring and executing "warehouse" facilities in Mexico.
From the legal perspective of the deal, it was particularly challenging given that it involved highly important companies in a sophisticated sector from two separate jurisdictions (Mexico and United Kingdom). As such, the structure was negotiated at-length and required to conform different concepts from foreign law into a Mexican-law governed transaction.
Finally, intricate contractual arrangements were put in place between all parties to document their relationship.
Governing Law
Mexican federal law and laws of the United Kingdom.
Deal Value
USD$100,000,000.00 (One Hundred Million US Dollars).
Deal Duration, Date of Closing / Signing
Closing: April 29, 2024
Practice Area
Corporate Finance
Team GC
Lead Partner: José Ignacio Rivero Andere
Managing Associate: Jacinto Ávalos Capín
Associates: Luis Ernesto Brieño Jiménez and Valeria Camacho Bello
Law clerks: Maite Robledo Saldívar, Sofía Ramírez Esparza e Isadora Sánchez Lavalle.
Other firms involved
Mijares Angoitia Cortés y Fuentes – as Mexican counsel to Plata Card.
Manuel Echave – Partner.
Juan Pablo Betancourt – Associate.
Clifford Chance – as U.K. counsel to Fasanara.
Maggie Zhao – Partner.
Simon Connor – Senior Associate.
Francis Tang – Lawyer.
Skadden, Arps, Slate, Meagher & Flom – as U.K. counsel to Plata Card.
Clive Wells – Partner.
Alexander Halms – Associate.
Alejandro Ascencio – European Counsel.
Krishane Sri Rajkumar – Associate.