Milbank LLP advised Fintech Latam S.à r.l. (“Fintech”), an affiliate of Fintech Advisory Inc., on the MXN 6.9 billion (approximately US$400 million) offering of zero-coupon mandatory convertible debentures issued by Grupo Televisa, S.A.B. (“Televisa”) (NYSE: TV). Televisa is a major Mexican telecommunications company and the owner of a 45% stake in TelevisaUnivision, the largest Spanish-language content producer in the world.
The capital raise, which was placed privately to Fintech and other significant shareholders, will support general corporate purposes, such as potential strategic telecom transactions in Mexico, capital expenditures and debt prepayments. The debentures will mandatorily convert into equity within one year.
Corporate Finance and Securities partner Adam Brenneman, who has extensive experience in cross-border securities offerings and complex capital markets transactions across Latin America and emerging markets, led the Milbank deal team with support from associate Isobel Smith.
