Holland & Knight Represents Nomura on a Private Placement of the Colombian Peso Equivalent of $50 Million for Payroll Lending in Colombia

NEW YORK (September 30, 2024) – Holland & Knight represented Nomura Securities International Inc. (NYSE: NMR) as initial purchaser on a private placement of the Colombian peso equivalent of $50 million issued by Patrimonio FAP Autonomo EXCEL CREDIT-NOMURA, a Colombian trust formed to buy payroll loans originated by ExcelCredit S.A. The transaction closed on August 21, and the initial advance was extended on August 26.

ExcelCredit is a Colombian financial entity that provides payroll loan services to public sector employees, pensioners and members of the armed forces, among others, expanding credit accessibility and financial empowerment. Borrowers receive these loans – known as libranzas – through their employers and make repayments via payroll deductions.

Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets east and west, Nomura services the needs of individuals, institutions, corporations and governments through its three business divisions: Wealth Management, Investment Management and Wholesale (Global Markets and Investment Banking).

Holland & Knight Partner Stephen Double, Associate Maria De Bedout and International Consultant Rodrigo Alvarado advised Nomura on the deal.