Closed on December 18, 2025
Villanueva Ortiz Abogados advises Banorte on a financing of $2,983,500,000.00 MXN granted to an affiliate of GP Construcción for the construction of the Children's Hospital of Health Services of Nuevo León.
Partner Eduardo Villanueva Ortiz, associate Liam Sebastián Remberg Del Toro, and law clerks Miriam Esperanza Martínez Muñoz and Alfredo Hernández Valdivieso, advised and represented Banco Mercantil del Norte, S.A., Multiple Banking Institution, Grupo Financiero Banorte (“Banorte”) in a financing agreement for a total amount of $2,983,500,000.00 MXN granted to an affiliate of GP Construcción, intended for the construction, equipping, and commissioning of the Nuevo León Health Services Children's Hospital, as well as for financing the creditable VAT derived from the project's development.
The hospital is one of the most significant hospital infrastructure projects in the state, both for its scale and its social impact, as it significantly strengthens the capacity for specialized pediatric care in Nuevo León.
The loan was structured as a project finance agreement, centered around an irrevocable trust for administration and repayment, responsible for receiving, managing, and allocating the financing resources, as well as channeling the funds allocated to the development of the mega-project. As the primary source of payment, the trust received the receivables from the construction contract, as well as the progress payment certificates corresponding to the project awarded to GP Construcción's subsidiary.
Additionally, as an alternative source of payment, the beneficiary rights derived from a state trust receiving payroll tax were allocated, with a specific percentage of those revenues earmarked for project financing, providing the structure with robust risk mitigation and financial certainty.
The transaction was supported by a comprehensive guarantee scheme, designed to ensure adequate control of project cash flows and mitigation of financial risks. This included corporate control mechanisms for the borrower, the allocation of accounts linked to VAT refunds, and the encumbrance of key project assets and rights, allowing for efficient oversight of the use and allocation of resources during the hospital's construction and commissioning phases.
This financing reaffirms Banorte's leadership in the development of Strategic public infrastructure projects in Mexico, particularly those with a high social impact, solidify GP Construcción's position as one of the country's leading construction groups, with over 900 completed projects, a nationwide presence, and a track record exceeding 22 million square meters of construction, encompassing hospital, educational, industrial, and large-scale infrastructure.
The transaction reflects VOA's extensive experience in structured and project finance, as well as its ability to design complex legal frameworks that align public and private interests in projects with significant economic and social impact.
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