News

Chadbourne Represents FOVISSSTE in the Successful Placement of its Twelfth MBS Offering in Mexico Amounting to $439 Million

June 25, 2012

Chadbourne & Parke represented FOVISSSTE in the successful placement of its twelfth mortgage loan portfolio securitization, known as TFOVIS, which amounted to US$439 million.

The placement was completed on June 22.

FOVISSSTE is a Mexican governmental entity that operates a financing system that allows state employees to obtain credit by means of a loan with a mortgage guarantee. It has become one of the most dynamic players of the Mexican structured finance market by placing over US$4.8 billion since 2009. The Issuance received a rating of AAA by Standard & Poor’s, Fitch and HR Ratings.

Chadbourne has successfully acted as transaction counsel in all these offerings.

Working for Chadbourne on the deal were Mexico City partners Boris Otto and Alejandro Landa and associate José Carrillo.