Holland & Knight in Mexico advised Sistema de Crédito Automotriz (SICREA) on the modification of its domestic bond program and the issuance of a $16 million domestic bond through the program.
SICREA is the financial arm of the Mexican car dealerships of Nissan. The deal, in which Actinver Casa de Bolsa acted as the placement agent for the notes on the Mexican Stock Exchange, closed on Dec. 15.
This AAA-rated issuance completes a $127 million program that will allow SICREA to complete its financial requirements and grow in the Mexican market.
Mexico City-based partner Alejandro Landa led the team advising SICREA.