The Firm acted as Mexican counsel to Televisa on the execution of a credit agreement for a five year term loan in an amount of MXN$10,000’000,000.00 with a syndicate of banks. The Loan was funded on July 5, 2019 and may be used for general corporate purposes, which may include refinancing of existing indebtedness. The Loan will bear interest at a floating rate based on a spread of 105 bps or 130 bps over the 28 day TIIE Rate depending on Televisa’s net leverage ratio. The Loan covenants require the maintenance of financial ratios related to indebtedness and interest expense. BBVA, Banco Santander and Citigroup Global Markets acted as Joint Bookrunners.