MEXICO CITY (December 1, 2014) – Holland & Knight represented Mexico's INFONACOT (Instituto del Fondo Nacional para el Consumo de los Trabajadores), a government consumer lending agency for workers, in a $2.7 billion pesos (approx. US$200 million) financing with Nacional Financiera, S.N.C. The transaction closed on November 21.
This financing represents a new source of funding for INFONACOT. In the past, the agency raised capital through the Mexican securities market with several debt issuances and a $4 billion-pesos securitization.
"The Institute's financial strength made this transaction possible. This new infusion of capital will allow the organization to diversify its sources of funding, which will benefit them greatly in the future," says Alejandro Landa Thierry, a partner with Holland & Knight in Mexico City.
Mr. Landa Thierry led the firm's representation of INFONACOT with the assistance of associates Christian Turégano and Armando Figueroa.
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