Laura Campos Carrillo
Laura joined White & Case in 2017 and has focused her practice mainly in banking and finance, capital markets and general corporate matters.
Laura has thorough experience in corporate governance matters consistent with providing expert input on meeting regulatory compliance obligations with the Mexican Banking and Securities Commission and the Ministry of Finance and Public Credit, among other regulatory financial authorities, as well as obtaining regulatory authorizations for the establishment, operation, and mergers and acquisitions of financial institutions in Mexico, including banks, financial groups, and asset managers.
Grupo Financiero Banorte US$1.4 Billion Merger with Grupo Financiero Interacciones
Representation of Grupo Financiero Banorte, S.A.B. de C.V. (BMV: GFNORTE, GFNORTEO; OTCQX: GBOOY, Latibex: XNOR) in reaching an agreement to acquire through merger Grupo Financiero Interacciones, S.A.B. de C.V. (BMV: GFINTER), including its banking, broker-dealer, insurance and asset manager subsidiaries, through a merger valued at approximately US$1.4 billion. The transaction positioned GFNORTE as the second-largest financial group in Mexico and as the largest infrastructure lender.
Representation of BlackRock Inc., an entity with approximately US$6 trillion in assets under management, on its acquisition of the asset management business of Citibanamex, a subsidiary of Citigroup Inc. This transaction involved approximately US$35 billion in assets under management.
Fibra Shop MXN 2.3 Billion Notes Offering and Exchange Offer
Representation of Fibra Shop (BMV: FSHOP), an investment trust vehicle under Mexican law dedicated to the acquisition, development and operations of shopping centers in Mexico, in the regulatory procedure to increase the maximum amount of a dual program established in 2015 to issue short- and long-term debt notes in the Mexican market from MXN 8 billion to MXN 9 billion, on the fourth and fifth offerings under such program with the following characteristics: MXN 130 million TIIE+1.50% notes due 2023 with respect to the notes FSHOP 19, and 359,243,000 Units of Investment (UDIs), equal to approximately MXN 2.2 billion 5.80% notes due 2025 with respect to the notes FSHOP 19U; and on the offer to exchange any and all of its outstanding notes FSHOP 15 for newly issued notes FSHOP 19 and FSHOP 19U. Casa de Bolsa BBVA Bancomer, S.A. de C.V., Grupo Financiero BBVA Bancomer and HSBC Casa de Bolsa, S.A. de C.V., Grupo Financiero HSBC acted as underwriters, Banco Sabadell, S.A., Institución de Banca Múltiple acted as special advisor and Monex Casa de Bolsa, S.A. de C.V., Monex Grupo Financiero acted as common representative.
iShares ESG MSCI Mexico ETF Public Offering
Representation of BlackRock México Operadora, S.A. de C.V. Sociedad Operadora de Fondos de Inversión, a subsidiary of BlackRock Inc., the largest asset manager in the world, as administrative agent and settlor in the public offering of a new domestic exchange-traded fund (ETF) product (iShares ESG MSCI Mexico ETF, ticker ESGMEX ISHRS) and its listing with the Mexican Stock Exchange on July 29, 2020. This ETF seeks to replicate the return, before fees and costs, of the MSCI Mexico ESG Select Focus Index, an index designed to maximize exposure to positive environmental, social and governance (ESG) factors while exhibiting risk and return characteristics similar to those of the MSCI Mexico Index (Parent Index), as well as keeping the carbon exposure of the index similar to that of the Parent Index.
Grupo Financiero Banorte Mergers Authorizations
Representation of Grupo Financiero Banorte, Banco Mercantil del Norte, and other entities of the Group, in obtaining the corresponding authorizations and favorable opinions of the Ministry of Finance and Public Credit, the National Banking and Securities Commission and the Mexican Central Bank (Banco de México), to carry out certain mergers of financial entities of the Group, in the context of an internal corporate restructure. One transaction is the simultaneous merger of the bank and four real estate companies, and the other transaction is the merger of two regulated multiple-purpose financial companies (Sofomes).
Aeroméxico Securitization of Collection Rights from Tickets
Representation of Aerovías de México, S.A. de C.V. (Aeroméxico) in the securitization of collection rights derived from airline ticket sales paid through credit cards and processed by BBVA, Banorte, Citibanamex and Santander (as acquirer). Representation of Aeroméxico in the registration of an issuance program of trust debt certificates (certificados bursátiles fiduciarios) for a maximum amount of MXN 7 billion (approximately US$363.7 million), and in the first issuance under the program for an amount of MXN 2.7 billion (approximately US$137.8 million) due 2024 and with an interest rate of TIIE + 1.68%. Actinver and BBVA acted as underwriters, and CIBanco as common representative of the holder. The issuer is a trust executed by and between Aeroméxico as trustor and Deutsche Bank as trustee.
Exitus Capital MXN 500 Million Trust Certificates Issuance
Representation of Exitus Capital, S.A.P.I. de C.V., SOFOM, E.N.R. (BIVA: EXITCB) in its second issuance of trust certificates for an amount of MXN 500 million due 2025, under its MXN 2 billion program authorized by the Mexican Banking and Securities Commission, which establishes the framework of the securitization of the collection rights derived from credit and leasing agreements of Exitus. The trust certificates are listed on the Institutional Stock Exchange, registered in Mexico, and rated local mxAAA (sf) by S & P global Ratings and HR AAA (E) by HR Ratings. Punto Casa de Bolsa, S.A. de C.V. and Bursamétrica Casa de Bolsa, S.A. de C.V. acted as underwriters, Bous Asesores, S.C. acted as structuring agent and Monex Casa de Bolsa, S.A. de C.V., Monex Grupo Financiero acted as common representative.
Pyrophyte Acquisition Corp. US$201.25 Million SPAC IPO
Representation of Pyrophyte Acquisition Corp. (NYSE: PHYT) in its initial public offering of 20,125,000 units, including 2,625,000 units as the result of the underwriter's exercise of its over-allotment option in full. The offering was priced at US$10.00 per unit, resulting in gross proceeds of US$201.25 million. Pyrophyte Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company intends to focus on differentiated companies that provide products, services, equipment, and technologies that support a variety of energy transition solutions.
Cydsa US$330 Million Notes Offering
Representation of Cydsa, S.A.B. de C.V. as issuer in an international offering of US$330 million aggregate principal amount of 6.250% senior notes due 2027, pursuant to Rule 144A and Regulation S. Cydsa used the offering proceeds to refinance a portion of the Cydsa group's outstanding debt, including a bridge loan granted by Goldman Sachs Bank USA and a syndicated loan. The notes are guaranteed by certain of Cydsa's subsidiaries. Goldman Sachs & Co. LLC acted as lead book-running manager and global coordinator, Citigroup Global Markets Inc. acted as joint book-running manager and BBVA Securities Inc., Santander Investment Securities Inc. and Scotia Capital (USA) Inc. participated as co-managers. The notes are listed on Singapore Exchange Securities Trading Ltd.
CAME MXN 200 Million Third Long-Term Debt Issuance
Representation of Consejo de Asistencia al Microemprendedor, S.A. de C.V., S.F.P. in its third issuance of long-term debt securities in the form of certificados bursátiles for an amount of MXN 200 million (approximately US$10.5 million), at a floating rate of TIIE (Interbank Offering Rate in Mexico) plus 2.00 bp, maturing October 2020. The securities were offered and placed in the Mexican securities market. The International Financial Corp. participated in the offering, granting a 40% guarantee on the aggregate of the outstanding amount. CAME used the proceeds to fund the growth of its loan portfolio.
MXN 850 Million Syndicated Term Loan Facility for Alucaps
Representation of BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer as administrative agent, collateral agent, sole bookrunner and lender, and a syndicate of lenders, in an MXN 850 million syndicated term loan facility which involves a first tranche for MXN 550 million non-revolving term loan and a second tranche for MXN 300 million revolving loan, granted to Alucaps Mexicana, S.A. de C.V. and Alucaps Mexicana de Occidente, S.A. de C.V., as co-borrowers. The proceeds were used to refinance a portion of the co-borrowers' outstanding debt, working capital and general corporate purposes. Grupo Alucaps Mexicana, S.A. de C.V. and Inmobiliaria Tepotzotlán, S.A. de C.V. acted as guarantors, and the loan was secured by a blanket lien mortgage created over all the assets of the co-borrowers.