Thor Urbana secures a USD 133 million loan from BBVA for a hotel in Playa del Carmen

Ritch Mueller represented Thor Urbana, in a term loan granted by BBVA México, consisting of (i) a construction tranche of up to USD$110 million to refinance existing indebtedness and finance the development and construction of the W Playa del Carmen hotel, and (ii) a VAT tranche of up to the peso equivalent of up to USD$23 million to finance VAT payable in connection with such construction.

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Read the note  (Only available in Spanish)