Citibank in $1.38 Billion Acquisition Financing
August 22, 2005
Cleary Gottlieb represented Citibank, N.A. and a syndicate of banks in issuing $1.38 billion of term loans to subsidiaries of the Techint Group. Techint used the loan proceeds to partially fund the acquisition of Hylsamex, S.A. de C.V., a leading Mexican steel producer. The deal closed following the conclusion of a Mexican tender offer for all of Hylsamex’s outstanding shares.
Techint is an international conglomerate of more than 100 companies operating worldwide with total annual sales of $8.5 billion primarily in the steel, energy, engineering and health care sectors.