Baker McKenzie represented Axtel, S.A.B. de C.V. in its $60 million credit facility with the World Bank’s International Finance Corporation

Leading global law firm Baker McKenzie announced today that it represented Mexican information and communication technology company Axtel, S.A.B. de C.V. in an unsecured credit facility with the World Bank’s International Finance Corporation, as lender and in its capacity as implementing entity for a managed co-lending portfolio program in respect of certain loans thereunder.
 
The facility is a $60 million financing which is intended in part to refinance Axtel’s loan agreement with Export Development Canada.
 
Transactional Practice Group partners Mike Fitzgerald, Joy Gallup and Pedro Reyes led the Baker McKenzie team, which also included associate Nicole Gresati Fernandez.
 
Other law firms participating in this transaction included Shearman & Sterling (as IFC’s New York counsel) and Garrigues (as IFC’s Mexican counsel).
 
Baker McKenzie lawyers also represented Axtel in connection with various prior financings, including its $264 million syndicated sustainability-linked financing with Scotiabank, HSBC and The Bank of Nova Scotia in 2023.