Mr Pedro Velasco > Creel, García-Cuéllar, Aiza y Enríquez, S.C. > Mexico City, Mexico > Lawyer Profile

Creel, García-Cuéllar, Aiza y Enríquez, S.C.
TORRE VIRREYES, PEDREGAL 24, 24TH FLOOR
COL. MOLINO DEL REY
MEXICO CITY, 11040
Mexico

Work Department

Banking and Finance, Bankruptcy and Restructurings and Capital Markets

Position

Pedro Velasco is a partner in the Mexico, City office, where he specializes in Banking & Finance, Bankruptcy & Restructurings and Capital Markets.

He represents domestic and foreign financial institutions (including many of the major local and foreign banks), as well as corporate borrowers (including numerous private equity funds), in a wide range of secured and unsecured financings, across several industries. Mr. Velasco’s expertise includes: commercial financings, acquisition financings, real estate financings, ship financings and project finance. On the bankruptcy and restructurings arena, he represents creditors and debtors on all non-litigation aspects of complex bankruptcy and out-of-bankruptcy restructurings. His capital markets expertise includes varied cross-border debt offerings.

Mr. Velasco has been ranked as leader in Banking and Finance by many publications, including: Chambers Global: The World´s Leading Lawyers for Business, Chambers Latin America: Latin America´s Leading Lawyers for Business, The Legal 500, IFLR 1000, Latin Lawyer 250: Latin America´s Leading Business Law Firms, and Latin American Corporate Counsel Association.

Career

Mr. Velasco worked as Foreign Associate in the Los Angeles office of Latham and Watkins LLP in 2001 and 2002.

Languages

Mr. Velasco worked as Foreign Associate in the Los Angeles office of Latham and Watkins LLP in 2001 and 2002.

Memberships

Mr. Velasco is a member of the International Bar Association (IBA).

Education

Mr. Velasco obtained his law degree (JD) from the Universidad Iberoamericana in 1999 with honors (academic excellence) and his LL.M degree in International Banking and Financial Law from Boston University School of Law in 2001.

Lawyer Rankings

Mexico > Banking and finance

(Leading individuals)

Pedro VelascoCreel, García-Cuéllar, Aiza y Enríquez, S.C.

Clients rely on the ‘tremendousCreel, García-Cuéllar, Aiza y Enríquez, S.C. because of its ‘pro-deal mindset’ and ‘business savvy’, ‘outstanding legal capabilities and customer service’ and understanding of ‘risks and regulators’; the lawyers have ‘an overall vision of the deal’. The 33-strong team boasts an enviable list of clients, including international and domestic lenders, borrowers, guarantors, funds, agents, banks, insurance companies, and other financial institutions, which it advises on numerous first-of-its-kind financing structures, complex structured financings, high-level restructurings, cross border, local single-bank and syndicated loan facilities, acquisition financings, ship financings, secured and unsecured financings, project finance and derivatives. In highlight work, practice head and rainmaker Carlos Aiza co-led the team -in conjunction with Giovanni Ramirez Garrido– acting as special Mexican counsel to Citibanamex on a $50m credit agreement and with negotiating the implementation of a participation between Citibanamex and Citibank. Garrido also led the team that advised BBVA Bancomer -as lender, administrative agent and security agent- on the MXN$2.85bn syndicated loan granted to Omnilife for the indirect refinancing of its existing debt, which was derived from a corporate restructuring. Highly valued by clients (he ‘has the ability to understand the clients’ needs regarding the quality of the work and timings’), Pedro Velasco led the team acting for Vista Oil & Gas on a first stage $260m senior secured loan arranged by Credit Suisse, Citibank and Morgan Stanley. Emilio Aarun, who made partner in January 2019, worked on both this and on the Citibanamex mandate; he has ‘the skills that facilitate the closing of deals, which is always the goal’. Other key practitioners include Rodrigo Castelazo, Mercedes Haddad, and of counsel Victor Gallegos. Other clients include Deutsche Bank, Credit Agricole, Commerzbank, Banorte, MetLife, and Bank of America.

Mexico > Bankruptcy and restructuring

In line with its work in other finance-related practices, Creel, García-Cuéllar, Aiza y Enríquez, S.C. primarily advises clients on high-end matters, specifically, on all non-litigious aspects of corporate recovery, insolvency, restructurings and workouts, including those involving complex financial situations and banking and finance structures; and creditors and debtors on complex bankruptcy and out-of-bankruptcy restructuring transactions and regulatory issues in non-judicial aspects of restructurings and workouts. The ‘superb and consistent’ eight-lawyer team is ‘efficient, practical and very focused on execution’, offering ‘the closest parallel in Mexico to a US-style representation’ and ‘the highest standard in quality and ethics’; ‘the key practitioners are in the minutiae of the deal but have a good sense of the big picture’. Banking and finance and capital markets expert Carlos Aiza leads the team; Pedro Velasco  (also a specialist in banking, finance and capital markets), is ‘punctual, professional and constructive’; and Rodrigo Castelazo is valued for his ‘intelligence and eye for detail’, but also knowing what is important and what is merely legal trivia’, as well as for ‘making sure that clients are well protected’. Emilio Aarun, who made partner in January 2019, is also recommended. The group was active on some of the more relevant cases of the recent years, including the restructuring of Banorte’s debt with GEO; representing a Brazilian group of bondholders in all matters relating to the concurso mercantil of Desarrolladora Homex; and Credit Suisse as creditor in the restructuring and reorganisation of Urbi Desarrollos Urbanos. In more recent work, it acted as leading Mexican counsel to Hemen as part of the creditors’ group in the negotiation and implementation of Seadrill’s chapter 11 reorganisation plan (considered the largest in the offshore drilling sector); as Mexican counsel to the holders of Abengoa’s corporate bonds, in the negotiation and restructuring of Abengoa’s obligations; and as Mexican special counsel to Coastal Energy Solutions in connection with the insovency of Tecnologías Relacionadas con Energía y Servicios Espcializados (TRESE).