The syndicated loan for this investment has a term of up to 15 years, involving Mexican banks, including BanBajío (as the lead bank), Banorte, Multiva, Bancomext, Bx+, and Monex, with support from FIRA.
Grupo CICE reported on Monday that it has received a syndicated loan for 4.15 billion pesos to finance the construction and equipment of its new container and cargo terminal project at the port of Veracruz.
The integrated logistics and port services company recalled that the terminal project was awarded through public bidding and seeks to contribute to increasing the capacity of the port of Veracruz.
The new 22-hectare terminal will have 550 linear meters of dock with a 14-meter draft , two docking positions, a multimodal yard with 1,970 meters of railroad spur and a wastewater treatment plant, among others.
The first stage of operations is scheduled to begin in April 2025. The terminal will generate approximately 500 permanent direct jobs and more than a thousand indirect jobs.
The syndicated loan was set for a term of up to 15 years, with the participation of Mexican banks, including BanBajío (as agent bank), Banorte , Multiva , Bancomext , Bx+ and Monex , with the support of FIRA .
The financing was structured by the firm Latam Capital Advisors , in its capacity as financial advisor to Grupo CICE, while Santamarina y Steta provided legal advice to the company, and CMS Woodhouse Lorente Ludlow acted as legal advisor to the syndicate of banks.
Grupo CICE is a group of Mexican companies dedicated to the provision of port, logistics and land transportation services, founded by 116 Mexican shareholders, whose experience as customs agents, shipping agents and in the transportation sector allowed them to lay the foundations for the formation of the group in Veracruz, Mexico, more than 30 years ago, in 1991.
For 11 consecutive years it has been recognized as a Socially Responsible Company by CEMEFI and recently obtained Prime certification from Bancomext-Nafin and AMIB in corporate governance .
Comment and follow us on X: @GrupoT21
