Client or Matter Name

Accial Capital Management LLC – an impact-focused, tech-enabled investor in small business and consumer loan portfolios in consumer markets.

Deal Description

We acted as legal counsel to Accial Capital Management LLC, as agent, in the USD$20,000,000.00 financing to Minu – an innovative financial company in Mexico in the salary on demand sector – as borrower, to fund its loan origination.

Innovation & Additional Comments 

The deal was particularly challenging given that it involved companies in a sophisticated sector from two separate jurisdictions (Mexico and New York). As such, the structure was negotiated at-length and required to conform different concepts from foreign law into a Mexican-law governed transaction.

As per documentation, it was necessary to implement an intrinsic collateral package in the form of an administration and source of payment trust to which Minu’s receivables are contributed.

Finally, intricate contractual arrangements were put in place between all parties to document their relationship.

Jurisdiction

  • Mexico
  • New York

Governing Law

  • Mexican federal law and laws of the state of New York

Deal Value

  • USD$20,000,000.00 (twenty million US Dollars 00/100 Legal Currency in the United States of America)

Deal Duration, Date of Closing / Signing

  • Closing: June 23, 2023

Team GC

  • José Ignacio Rivero Andere, Partner
  • Jacinto Avalos Capin, Associate
  • Luis Ernesto Brieño Jiménez, Associate
  • Maite Robledo Saldívar, Law clerk

Other firms involved

  • Raúl Tornel Castillejos, General Counsel to Minu