MEXICO CITY (April 19, 2018) – Holland & Knight Partner Alejandro Landa Thierry and Associates José Luis Villareal and Gerardo Rotzinger advised Instituto del Fondo Nacional para el Consumo de los Trabajadores (INFONACOT) on a MX$2 billion (US$111 million) securities issuance on the Mexican Stock Exchange. The transaction closed on April 19.
Although INFONACOT does not have the federal government as guarantor, the securities issuance – with ticker symbol FNCOT 18 – obtained an AAA rating by both Fitch and HR Ratings.
This securities issuance is part of a MX$10 billion (US$555 million) program that complements the funding structure of INFONACOT alongside the securitization of MX$4 billion (US$230 million) in which Holland & Knight also participated last year.
In this transaction, CI Banco, S.A. Institución de Banca Múltiple acted as common representative for the holders of the senior notes, and Actinver Casa de Bolsa, S.A. de C.V., Grupo Financiero Actinver, Casa de Bolsa BBVA Bancomer, S.A. de C.V. and Grupo Financiero BBVA Bancomer acted as lead underwriters.
“We are very proud of being able to assist INFONACOT in this transaction as it reflects the trust of the investors in such a successful institution,” said Mr. Landa Thierry.
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