CICE Group , a port and logistics services provider, received the “Port Financing of the Year” award for the financing of its Semi-Specialized Container and Project Cargo Terminal, located in the North Bay of the port of Veracruz.
The recognition, granted by LatinFinance , a specialized media outlet in banking, investment and infrastructure in Latin America, highlights that the financing operation for 210 million dollars (mdd) represents a precedent for the Mexican port sector, being the first banking transaction aimed at the construction, equipment and operation of a greenfield port terminal (developed from its initial stage in a new area of the port area).
With this investment, Grupo CICE reaffirmed its commitment to the country’s economic and logistical development , consolidating the port of Veracruz as a strategic hub for Mexican foreign trade, while strengthening Mexico’s position on the global stage through comprehensive and sustainable solutions that drive connectivity and efficiency in supply chains .
“LatinFinance’s recognition of the Bahía Norte project reflects Grupo CICE’s strength, vision, and leadership in the transformation of the national port system and its role in strengthening the country’s foreign trade,” Grupo CICE emphasized in a statement.
According to the company, the financing was structured without sovereign backing or the participation of multilateral organizations; that is, it did not have government guarantees or the support of international financial institutions .
“The financial scheme, led by Banco del Bajío as the agent bank and with the participation of Banorte , Banco Nacional de Comercio Exterior (Bancomext) , Ve por Más (BX+) , Monex and Multiva , was aimed at strengthening the confidence of lenders through instruments such as trusts, corporate guarantees and the monetization of future flows. Additionally, FIRA contributed a long-term fixed-rate tranche, helping to mitigate risks and balance the project’s financial structure,” he explained.
The transaction combined revenue from Grupo CICE’s established activities with projected future cash flows from the new terminal, enabling a blended brownfield-greenfield financing structure that integrates operating assets with new investments under development.
“The financial structuring was handled by Latam Capital Advisors as the structuring agent, while Santamarina y Steta served as legal advisor to Grupo CICE, and CMS Woodhouse Lorente Ludlow served as legal advisor to the participating credit institutions,” the firm explained.
It is worth remembering that the CICE Bahía Norte Terminal began operations in April 2025 and today it is consolidated as one of the most modern port infrastructures in the country, receiving the main shipping lines at a global level , serving container services under a regular import and export scheme, including multimodal yards, warehouses, cold storage rooms and a two thousand meter railway connection, designed to reach a dynamic capacity of up to 500 thousand 20-foot containers (TEU) per year.
(Main photo taken from https://home.grupocice.com/ ) .
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