Chadbourne Represents Sistema de Crédito Automotriz in Structure of a $153 Million ABS Program and a $76 Million Revolving Issuance on the Mexican Stock Exchange
May 29, 2012
Chadbourne & Parke represented Sistema de Crédito Automotriz (SICREA) in the structure of a 2 billion pesos ($153 million) ABS program and a 1 billion pesos ($76 million) revolving issuance of certificados bursátiles offered on the Mexican Stock Exchange.
The 1 billion issuance was rated AAA on local scale and placed by ING Casa de Bolsa, Ixe Casa de Bolsa and Valores Mexicanos.
“We are glad to assist SICREA in the implementation of a financing revolving facility through the Mexican securities market,” said Chadbourne Partner Alejandro Landa.
The deal closed on May 28, 2012.
SICREA is NISSAN’s dealers financial arm in Mexico and is devoted to grant auto loans to NISSAN clients.
Working on the deal for Chadbourne were partners Boris Otto and Alejandro Landa and associate David Cortes.