NHG advises Elektra on new issuance of Senior Notes
Nader Hayaux & Goebel has advised Nueva Elektra del Milenio, a subsidiary of Grupo Elektra, as issuer and payment guarantor, respectively, in connection with its second indirect issuance of USD $350 million 12.500% Senior Secured Notes due 2031.
The issuance was made under the cross-border remittance securitization program, and under Rule 144A and Regulation S under the U.S. Securities Act of 1933.
The New Senior Secured Notes are secured by and have a senior and exclusive lien against a private limited liability company incorporated under Luxembourg law and qualified as a management company under the Luxembourg Securitization Law in respect of a designated portfolio of receivables originated by New Millennium Elektra.
The Senior Secured Notes are listed on the Luxembourg Stock Exchange – Securities Official List.
In the face of market uncertainty and regulatory hurdles, the pricing and placement of the Senior Secured Notes took place under exceptional circumstances.
NHG’s team was led by partners Michell Nader (pictured left), Adalberto Valadez (pictured right) and Jenny Ferrón, assisted by associates Fernando Villalón, Ulyses Casanova, David Arguedas, Danielle Cámara and Bernardo Ibarra.
