Santamarina y Steta represented IFC and PROPARCO to extend a multilateral credit facility for $1.4 billion pesos to Proteak Uno
Mexico City, January 26, 2017. Santamarina & Steta, S.C. advised the International Finance Corporation (IFC) and Societé de Promotion et de Participation Pour la Coopération Économique (PROPARCO) to extend a line of credit for $1.4 billion pesos to Proteak Uno, S.A.B de C.V. (Proteak, BMV: TEAK), a leading Mexican company in the international forest sector.
The facility granted to Proteak Uno by IFC and PROPARCO will be used to the sustainable development up to 10,000 new hectares of commercial forest plantations, the reduction of carbon emissions and to expand its operations by restructuring Proteak’s current debt with improved conditions.
The legal specialized team that advised IFC and PROPARCO was led by partner Juan Carlos Machorro, whose practices are focused on general corporate, energy, mergers & acquisitions and project finance & infrastructure. Additionally, the associates Ricardo Orea and Arturo Rosette joined the efforts regarding this project.
The law firms involved were:
• Advisors for Proteak Uno S.A.B. de C.V: White & Case Mexico.
• Advisors for International Finance Corporation and the Societé de Promotion et de Participation Pour la Coopération Économique: Santamarina & Steta, S.C.