Vitro in $490 Million Term Loan ‘Club Deal’

Cleary Gottlieb represented Vitro S.A.B. de C.V. (Vitro) and its U.S. and Mexican affiliates in a $490 million term loan with Banco Mercantil del Norte S.A., Institución de Banca Múltiple, Grupo Financiero Banorte (Banorte); BBVA México S.A., Institución de Banca Múltiple, Grupo Financiero BBVA México (BBVA); and The Bank of Nova Scotia (Scotiabank).

The transaction signed on September 28, 2023, and the loan closed and was fully disbursed on October 3, 2023.

With this transaction, Vitro successfully refinanced its short-term debt in full and a substantial portion of its long-term debt.

With over 100 years of experience in the market, Vitro is one of the world’s leading glass manufacturers, the largest in Mexico, with subsidiaries throughout the Americas, Europe, and Asia.