Gonzalez Calvillo, July 5th, 2023 .- We acted as independent counsel to NR Finance México, S.A. de C.V. (“NRFM”) in the establishment and authorization by the National Banking and Securities Commission of Mexico (CNBV) of a new dual program of certificados bursátiles for up to MXP$13 billion in the Mexican Stock Exchange (NRF).
Nissan Motor Acceptance Company LLC (NMAC) acted as guarantor of NRFM; BBVA and Scotiabank as underwriters, and CIBanco as common representative of the bond holders.
The issuances of short term certificados bursátiles to be made under the program have a credit rating of “F1+(mex)” grated by Fitch Ratings, and “ML A-1.mx” by Moody’s.
This transaction represented the come back to the securities market in Mexico of another non-banking financial institution (IFNB, for its acronym in Spanish), and the return of NRFM to the BMV after 4 years of its last offering of long term certificados bursátiles (NRF 19).
The team was integrated by our partner Bernardo Reyes Retana Krieger, including associates Francisco Javier Alvarez, Diego Hernández Abascal and Fernando Blanco González, alongside law clerks Héctor Ferrari Ruiz and Erika Botas.
More details here.
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