GC advises Rappi Mexico in the MXN$1 billion first tranche of a large-scale financing granted by Banorte  

González Calvillo advised Rappi Mexico, and its financial arm, Tarjetas del Futuro, as borrower, in the MXN$1,000,000,000.00 first tranche of a large-scale financing (the "Additional Financing") granted by Banorte, as lender – the second largest financial group in Mexico and the one with the largest business diversification in the market – to fund the credit card origination operations of Tarjetas del Futuro.

The deal was particularly challenging given that it involved the structuring and putting into place of two separate but related structures.
 
On the one hand, it was necessary to implement a master collection structure – together with a trust agreement and a management agreement – to serve as the mechanism through with Tarjetas del Futuro will collect its receivables and through which, as applicable, it will disperse them to its different financing sources. 
 
On the other hand, the Additional Financing (as defined above) was also structured and negotiated. This part of the deal meant the putting into place of a loan agreement, a management agreement with a third-party servicer and the corresponding collateral package in the form a security trust agreement.

 
Finally, given the relevant and intrinsic financial technology factor of the deal, it was necessary to prepare complex documentation concerning the segregation and management of the accounts receivable related to credit cards issued by Tarjetas del Futuro.
 
 This matter is also relevant due to the parties involved, which are highly important companies in sophisticated sectors, and due to the fact that it marks another relevant milestone in the joint venture between Rappi Mexico and Grupo Banorte.

Team GC: Lead Partner: José Ignacio Rivero Andere
Counsel: Antonio De Lisi Martínez
Managing Associate: Jacinto Avalos Capin
Associate: Rodrigo Poumian González

Creel, García-Cuellar, Aiza y Enríquez, S.C., acted as legal counsel to de Banorte. 
Lead Partner: Emilio Aarún Cordero.