Garrigues México provided assistance on Mexican Law aspects to Antolin
Garrigues México provided assistance on Mexican Law aspects to Antolin (one of the leading companies in the automobile supplier industry) in connection with a high yield bond issuance of €400 million aggregate principal amount, a new €200 million term loan facility and a €200 million revolving credit facility. The transaction involved both UK and US Law.
This project was particularly important because the transaction was performed within the trend of European Companies of obtaining financing through capital markets instead of ordinary banking financing. In this regard, Antolin, by offering such €400 million of Senior Secured Notes with a 7 year maturity and a yearly fixed rate coupon of 4.75%, diversified its funding sources (deviating from traditional financing through bank entities), which allowed the company to reorganize its long-term liabilities and achieve its growth strategies.