Reseña

The Loan Syndications and Trading Association (LSTA) was
founded in 1995 to provide “the critical leadership that is essential
for the continuation of the syndicated lending market’s strong growth
through thought leadership from industry experts, sharing industry
best practices and by establishing standards and standardization.”1
The LSTA thus developed a standard loan contract model that is
widely used in the United States.

The LSTA model, though, needs to be tailored for cross-
border transactions, as it often fails to capture the peculiarities
of domestic regimes. The LSTA has made a recent effort to create
a version for Latin American transactions that is covered in the
document Model Credit Agreement Provisions for Latin American
Cross-Border Transactions.
This guide, however, is aimed to fill the gap that still exists
with regards to the Mexican taxation regime applicable to cross-
border loan agreements. It intends to set a contract standard
tailored to Mexican tax conditions, akin to the credit agreement
model developed by the LSTA.
This guide provides an overview of the Mexican fiscal regime
applicable to cross-border loans and highlights the main defini-
tions and clauses of the LSTA Model Credit Agreement that it is
recommendable to modify in order to comply with the Mexican fis-
cal regime. Specific language is suggested, as well as the criteria for
revisions from both the borrower’s and the lender’s perspective.
This work was prepared under the guidance of Oscar A.
López Velarde Pérez, who heads the tax practice at Ritch, Mueller
y Nicolau, S.C. The principal contributors were Santiago Llano Zapatero, Juan José Paullada Eguirao and Santiago Díaz Rivera,
as well as the rest of Ritch Mueller’s tax team. Thanks also to the
LSTA for its valuable inputs, comments and feedback. The guide
was edited by Eduardo López.
The guide is for informational purposes only; nothing in this
guide constitutes the provision of legal advice or services by the
LSTA. If legal services are required, the services of a legal profes-
sional should be sought. The views expressed in these guides by
the authors are their own and not those of the LSTA.