Bernardo Reyes

GC on first public offering of NRFM

Gonzalez Calvillo has advised NR Finance Mexico (NRFM) in the first public offering and issuance of short-term certificados bursátiles (certificates of deposit) under its new dual programme for an amount of MXP$67’439,000 million, listed on the Mexican Stock Exchange (NRF 00123). The offering process was carried out through an auction mechanism.

The short-term certificados bursátiles, called on 28 November, auctioned on 29 November and issued on 30 November, have a maturity date of 18 January 2024.

This operation involved the jurisdictions of Mexico and the US (New York). It also represented the return of NRFM’s presence in short-term commercial paper issues in the Mexican stock market.

Nissan Motor Acceptance Company LLC (NMAC) acted as guarantor of NRFM; BBVA and Scotiabank acted as placement intermediaries; and CIBanco acted as common representative of the holders.

The issuance of short-term certificados bursátiles has been rated “F1+(mex)” by Fitch Ratings; and “ML” by Moody’s.

This issuance and the others to be made by NRFM under the new dual bond programme are 100% guaranteed by NMAC, granted under the laws of the State of New York, in the United States of America.

NR Finance Mexico is an automotive finance company in Mexico for the Nissan, Renault, Infiniti and Mitsubishi Motors brands.

GC’s team was led by partner Bernardo Reyes Retana K. (pictured), with support from associate Diego Hernández A.

L Giselle Estrada