Press Release
October 25, 2024

Holland & Knight Advises INFONACOT on MX$3.7 Billion Bond Issuance

MEXICO CITY (October 25, 2024) – Holland & Knight represented Mexico's Instituto del Fondo Nacional para el Consumo de los Trabajadores (INFONACOT), a government consumer lending agency for workers, on its successful issuance and placement of 37 million bonds (certificados bursátiles) on the Mexican Stock Exchange. The offering, listed as (BMV: FNCOT 24-2) and valued at MX$3.7 billion (approximately US$190 million) with a three-year maturity, was completed on October 18.

Scotiabank Casa de Bolsa acted as the placement agent.

This bond issuance supports INFONACOT's ongoing efforts to extend affordable credit to Mexican workers, further strengthening its role in promoting financial inclusion. The bonds were rated AAA by HR Ratings and Fitch Ratings, reflecting the institution's solid financial standing and the market's confidence in its mission.

Holland & Knight Partner Alejandro Landa Thierry, Senior Counsel Aldo González Melo, and Associates Santiago Noriega and Paulina López led the firm's representation of INFONACOT.

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