Eric Quiles specializes on banking, finance and securities law. He has more than ten years of experience, joining White & Case team in 2013. He has provided legal advice to banks, underwriters, brokers, state productive companies, multilateral financial institutions, international companies and other financial institutions. He has experience in a broad range of finance transactions including banking loans, whether local, cross-border or syndicated loans, securitizations, equity corporate finance, and public offerings in Mexico and abroad in reliance on rule 144A and Regulation S under the US Securities Act.
Major local debt issuers and underwriters rely in Eric's knowledge and experience to carry out their securities issuances such as Comisión Federal de Electricidad, Fondo Especial para Financiamientos Agropecuarios, Santander, Citibanamex, Accival, Scotiabank and Cetelem.
Eric advices local issuers on the compliance of regulatory requirements, legal obligations and corporate governance challenges and trends, on their day-to-day affairs, crisis and other special situations and all aspects of their compliance with the Mexican securities laws and the listing requirements on both Mexican exchanges.
He has also been involved in transactions that cover the rest of the range of legal advice in corporate matters as mergers and acquisitions, real estate acquisitions, corporate governance, compliance of financial institutions and regulatory matters in the transportation sector and infrastructure projects.
Santander 2020 Eric represented Banco Santander Brasil (Santander Brazil), in connection with the preparation, execution and delivery of a joint and several liability agreement, among all the Mexican affiliates of Cinepolis as joint and several obligors and Cinepolis Operadora de Cinemas do Brasil LTDA (Cinepolis Brazil) as the principal obligor, in favor of the Santander Brazil, as a guarantee for a bond granted by Santander Brazil in favor of Banco do Nordeste do Brasil as lender for an amount due under a loan granted to Cinepolis Brazil as debtor.
Santander MINTCB Securitization, 2020 Eric represented Banco Santander (Mexico) and Casa de Bolsa Santander (Mexico), in the implementation of a long term debt certificates program, under which Casa de Bolsa Santander will be able to create several issuing trusts that will acquire certain financial assets, either credit agreements, negotiable instruments or securities, in charge of "AAA" rated foreign companies that have securities registered, authorized or regulated for its sale to the public by commissions that are members of the International Organization of Securities Commissions (IOSCO). The program was authorized by Mexico's National Banking and Securities Commission, for an amount of up to MXN$35 Billion, or its equivalent in US Dollars, Euros, Great Britain Pounds or Units of Investment, and has a maturity of 5 years.
Comision Federal de Electricidad (CFE) Formosa Bond Issuance, 2020 Eric represented CFE, the national electric company of Mexico, as special Mexican counsel in the issuance of its 4.05% notes due 2050 (the Formosa Bond), for an amount of US$900 million. The Formosa Bond was sold outside of Mexico and the United States to non-US persons, was listed on the Taipei Exchange (to be listed on the Luxembourg Stock Exchange) and settled through Euroclear and Clearstream.
Fondo Especial para Financiamientos Agropecuarios (FEFA) MXN 100 Billion Program and Issuances, 2018 Eric represented FEFA, a Mexican governmental development trust dedicated to agriculture, on the registration of its long-term debt certificates program for up to MXN 100 billion (approximately US$5 billion) and authorization from the National Banking and Securities Commission (CNBV) and the authorization of the documents templates for issuances under such program as a recurring issuer (the Current Program). Additionally Eric have represented FEFA on eight issuances of debt certificates (certificados bursátiles) under its Current Program which have been listed on one of the two Mexican Stock Exchanges.
FEFA MXN 2.5 Billion Green Bond, 2019 Eric represented FEFA on the first forest impact green bond issuance (FEFA 19V) of debt certificates (certificados bursátiles) under its Current Program as recurrent issuer. The amount of the issuance was MXN 2.5 billion with a maturity of 3.2 years. It was publicly offered in the Mexican securities market and locally registered with the CNBV. The proceeds of the green bond issuance will be allocated to projects that have a positive ecologic impact, specifically in forest and renewable energy sectors, under the issuer's green bond framework. The green bond issuance was certified by Sustainalytics, an international expert company in green bond issuances, as well as by the Climate Bonds Initiative (CBI). This issuance was the first green bond issuance carried out in the Mexican stock market with a forest positive impact.
FEFA MXN 180 Billion Certificados Bursátiles Issuance, 2019 Eric represented FEFA, on its private short- and long-term debt certificates (certificados bursátiles) issuance with subsequent allocation of series, for an amount of up to MXN 180 billion, with a maturity of 5 years. With this issuance, FEFA may place up to 1,000 series of debt certificates under the authorized amount, in either Mexican pesos, US dollars or Mexican investment units (Unidades de Inversión). Monex Casa de Bolsa, will act as common representative under the series. No other issuance or program in Mexico, public or private, has ever been authorized for MXN 180 billion, which makes FEFA's issuance a record-high authorization in the Mexican Stock Market.
CFE Listing on the International Quotation System of the Mexican Stock Exchange, 2019 and 2017 Eric represented CFE as Mexican counsel on the listing on the International Quotation System (SIC) of the Mexican Stock Exchange (BMV) of the CFE's US$ 615 million offering of its 5.00% notes due 2049 listed in the Taipei Exchange and the Luxembourg Stock Exchange and US$750 million offering of its 5.15% notes due 2047 listed in the Taipei Exchange. CFE is the first issuer to list debt securities in the International Quotation System (SIC) since 2011.
Cetelem MXN 3 Billion Certificados Bursátiles Issuance, 2019 Representation of Cetelem, as issuer in the ninth (CETELEM 19-3) and tenth (CETELEM 19-4) Mexican pesos-denominated issuances of Cetelem's debt securities in the form of CBs (certificados bursátiles) publicly offered in the Mexican securities market and issued under its locally registered CB program for a total amount of MXN 3 billion (approximately US$153 million), with a guarantee granted by BNP Paribas, in favour of the holders of the CBs. The amount of the ninth issuance was MXN 1.3 billion with a maturity of 3 years at a floating interest rate (TIIE, the Interbank Offering Rate in Mexico) plus a margin of 0.35 basis points and maturing in September 2022, while the amount of the tenth issuance was MXN 1.7 billion with a maturity of 3 years at a gross annual interest rate of 7.77% (MBono 2022: 6.90% plus 0.87 basis points) and maturing in September 2022.
Scotiabank MXN 50 Billion Issuance for Notes Placings, 2018 Eric represented Scotiabank Inverlat (Scotiabank), the Mexican subsidiary of the Bank of Nova Scotia, in the registration and approval of an issuance of MXN 50 billion (approximately US$2.77 billion), under which Scotiabank may carry out multiple placings of structured notes (bonos bancarios estructurados); each placing may be denominated in Mexican pesos, foreign currencies or inflation-indexed units and may be referred to several underlying assets (single stocks, indexes, etc). The issuance has a five-year term during which the placings may be carried out.
Banco Nacional de México, S.A., integrante del Grupo Financiero Banamex (Citibanamex) Debt Certificates Program Registration, 2016 Eric represented Citibanamex on the registration in Mexico of its new program of long term debt certificates (Certificados Bursátiles) for a total amount up to MXN 50 billion (approximately US$2.4 billion) as recurring issuer registered in Mexico and listed on the Mexican Stock Exchange. The long term debt certificates may be issued at either a fixed rate or a variable rate, in Mexican Pesos, US Dollars, Euros or UDIs (inflation indexed units).
The article "Títulos Virtuales" ("Dematerialized Securities") in Pandecta law journal. Third Epoch, Number 11, April–May 2005