Global Banks Make First Cross-Border Syndicated Loan to Televisa, Valued up to $950 Million

April 02, 2018

New York - Paul Hastings LLP, a leading global law firm, announced that it represented HSBC Mexico S.A., as sole lead arranger and bookrunner, HSBC Bank USA, N.A. as administrative agent, and a group of lenders consisting of HSBC Mexico, BBVA Bancomer S.A., Banco J.P. Morgan S.A., Banco Santander (Mexico) S.A., Bank of Tokyo-Mitsubishi UFJ (Mexico), S.A., and Mizuho Bank of Mexico, S.A., in the first cross-border New York law-governed revolving credit facility extended to Grupo Televisa, S.A.B. Televisa is a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite pay television system in Mexico.

The “Dollar denominated Peso-pay” facility is initially committed in the amount of the Mexican peso-equivalent of $583 million and contains an accordion feature that allows for an increase in the borrowings of up to the Mexican peso-equivalent of $375 million, for a total amount of more than $950 million.

Televisa is a leading media company in the Spanish-speaking world.
Latin America partners Joy Gallup and Michael Fitzgerald, associate Eduardo Gonzalez and law clerk Hannah Kropp led the Paul Hastings team, which also included tax partners Andrew Short and David Makso and tax associate Stephen Grace.

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