Beccar Varela and Marval acted as legal advisors on an international financing of up to USD 26,000,000 granted by HSBC UK Bank PLC to NowVertical Group Inc. (TSXV: NOW), a leading provider of data and artificial intelligence solutions.
The financing aims to support NowVertical’s next stage of growth by providing increased liquidity and financial flexibility to execute its global strategy. It will allow the company to consolidate existing debt under a more efficient structure, gain immediate access to capital for new acquisitions and organic projects, and optimize its capital structure through the potential renegotiation or cancellation of other liabilities.
The transaction includes a term loan and a revolving credit facility, both maturing in 2030. The facilities are denominated in U.S. dollars and bear interest at a variable rate based on the Secured Overnight Financing Rate (SOFR).
Legal counsel to HSBC UK Bank PLC
Beccar Varela: partner Pablo Torretta and associate Franco Montiel, in Buenos Aires.
Simmons & Simmons: partner Kirsty Barnes, with the participation of Erica Houlihan, Marian Labib, Hazal Kirci, Leticia Santoro and Niall Mubarak, in London.
Legal counsel to NowVertical Group Inc.
Marval: partners Andrés O’Farrell, Francisco Abeal, and María Laura Bolatti Cristofaro; associates Juan Pablo Lentino and Santiago Cocimano, in Buenos Aires.
Norton Rose Fulbright: partner Christopher Akinrele, with the participation of Ian Lam and Arslan Shabir, in London.