Mariel Martínez Zárate | White & Case LLP International Law Firm, Global Law Practice
 Mariel Martínez Zárate
 Mariel Martínez Zárate

Mariel Martínez Zárate

Associate, Mexico City

T +52 55 5540 9605

E mmartinez@whitecase.com

Overview

Mariel joined White & Case in 2014. Her practice is mainly focused in general corporate law, corporate finance and capital markets.

Mariel's experience includes corporate governance matters consistent with providing expert input on regulatory and market/country risks and in assisting with meeting regulatory compliance obligations with the Mexican authorities.

During her LLM studies, she focused on corporate subjects, giving special attention to corporate finance, including mergers & acquisitions.

Prior to joining White & Case, Mariel worked in the legal and compliance department of a prestigious international financial institution where she was directly involved in the creation and implementation of an Advisory Office through which the financial institution provides its wealth management services with both onshore and offshore platforms.

Bars and Courts

  • Authorized to practice law in Mexico

Education

  • LLM, Master in Business Law, IE Law School
  • Bachelor of Laws, Universidad Iberoamericana

Languages

  • Spanish
  • English

Experience

FINCA International LLC Disposition of Mexican Assets, 2016

Representation of FINCA International LLC in the disposition of its Mexican assets, including the sale of 100 percent of FINCA's Mexican micro-finance business. This transaction involved the implementation of an intricate cross-border acquisition structure, which entailed a complex security interest structure under Mexican law to guarantee the multi-installment payment of the purchase price by purchaser Te Creemos Holding.

BNP Paribas MXN 700 Million CB, 2016

Representation of BNP Paribas Personal Finance, (BNPPPF) as issuer and BNP Paribas as guarantor in the first reopening of the second Mexican pesos-denominated issuance (BNPPPF 16) of BNPPPF's debt securities in the form of CBs (certificados bursátiles) for a total amount of MXN 700 million (approximately US$38 million), publicly offered in the Mexican securities market and issued under its locally registered CB program at a floating interest rate (TIIE) plus 0.45 basis points and maturing in June 2018. The proceeds will be used by BNPPPF for general corporate matters; in particular, granting loans to its clients.

Shinhan Bank Co., Ltd., Authorization to Incorporate a Multiple Banking Institution in Mexico, 2015

Mariel represented Shinhan Bank Co., Ltd., the largest bank in South Korea, in the process of obtaining a license to incorporate a multiple banking institution in Mexico. This license is the first one granted to a Korean bank in Mexico.

Comisión Federal de Electricidad US$700 Million Notes Issuance and Offering, 2015

Mariel was part of the team that acted as Mexican counsel representing BBVA Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman, Sachs & Co. as joint lead managers and joint bookrunners in the issuance and offering of Comisión Federal de Electricidad (CFE), the national electricity company of Mexico (100 percent owned by the Mexican government) of US$700 million 4.875% notes due 2045, under Rule 144A and Regulation S of the US Securities Act of 1933. CFE's bond issue was listed on the Luxembourg Stock Exchange and traded on the Euro MTF market. The proceeds of the bond issue will be used by CFE for working capital and general corporate purposes in accordance with Mexican laws and regulations.

BNP Paribas Personal Finance MXN 1.100 Million CBs Offering, 2015

Mariel represented BNP Paribas Personal Finance, as issuer, and BNP Paribas, as guarantor, in the first Mexican pesos-denominated issuance of CBs (certificados bursátiles) for a total amount of MXN 1.100 million, publicly offered in the Mexican securities market, issued under its locally registered CB Program, at a floating interest rate (TIIE), plus 0.40 basis points and maturing in December 2018. The notes proceeds will be used by BNP Paribas Personal Finance for general corporate matters; in particular, granting loans to its clients.

MXN 10 Billion Debt Certificate Issuances by Comisión Federal de Electricidad, 2015

Mariel acted as deal counsel for Comisión Federal de Electricidad (CFE) in the seventh issuance (CFE 15) and the first reopening of the sixth issuance (CFE 14-2) of CFE's debt certificates (certificados bursátiles) under its MXN 100 billion (approximately US$6.5 billion) program as recurrent issuer registered in Mexico and authorized by Mexico's National Banking and Securities Commission (CNBV). The aggregate amount of both issuances was MXN 10 billion (approximately US$650 million). The debt certificates were fully registered with the CNBV and listed on the Mexican Stock Exchange. The reopening of the sixth issuance had a Mexican tranche and an international tranche; approximately 80 percent of the debt certificates were sold in Mexico and cleared through Indeval (Mexican securities clearinghouse), and 20 percent were sold outside of Mexico in reliance on rule 144A and Regulation S under the US Securities Act and cleared through Euroclear and Clearstream.

CFE US$1.071 Billion Issuances of Debt Certificates, 2014

Mariel was part of the team that acted as deal counsel for CFE in the fifth and sixth issuances of debt certificates (certificados bursátiles) under its MXN 100 billion (approximately US$7.142 billion) program as recurrent issuer registered in Mexico and listed on the Mexican Stock Exchange. The amount of the fifth issuance was MXN 5.5 billion (approximately US$392 million) and the amount of the sixth issuance was MXN 9.5 billion (approximately US$678 million).The aggregate amount of both issuances was MXN 15 billion (approximately US$1.071 billion). This transaction was the largest local debt offering by the CFE in its history and was the first local debt offering of CFE after the Energy Reform was approved.

Mexico's State of Chiapas US$850 Million Sub-Sovereign Debt Restructuring, 2014

Mariel was part of the team that represented the State of Chiapas in its record-breaking public debt restructuring. This was Mexico's largest sub-sovereign debt refinancing in 2014. The State of Chiapas incorporated a master trust with present and future proceeds derived from 20 percent of the federal tax participations to which the State is entitled, to set up a bankruptcy remote payment vehicle to service the restructured debt.

Comisión Federal de Electricidad Consent Solicitation Offer, 2014

Mariel was part of the team that represented Comisión Federal de Electricidad (CFE) in a consent solicitation offer to Trust Bond Holders (the "Holders") related to three of the Debt Programs sponsored by CFE. A consent solicitation fee of 15 basis points was offered to the Holders in order to obtain their consent to amend a covenant in the underlying financing documents to adjust such covenant to certain provisions of the Mexican Energy Reform. This was the first consent solicitation offer of its type in the Mexican market.  The consent solicitation fee was only paid by CFE to those holders who attended or were represented at the Holders' meetings, and who voted in favor of the proposed amendment. The proposed amendment was approved in all of the 14 outstanding series under the three debt programs. The implementation of this new consent solicitation required extensive negotiation with Holders, custodians, common representatives, Indeval and BMV.