Pérez-Llorca represents HIR Casa on mortgage-backed trust and syndicated loan
Pérez-Llorca has advised HIR Casa on a capital markets transaction involving the second and third issuances of mortgage-backed trust certificates (HIRCB 25 and HIRCB 25-2) under its revolving program listed on the Mexican Stock Exchange.
The MXP$2 billion dual-tranche issuance — one fixed-rate and one floating-rate — marks a first-of-its-kind offering in Mexico’s public markets by a non-bank financial institution.
Designed to attract a wider pool of institutional investors, including pension funds that have traditionally stayed away from this asset class, the innovative dual-rate structure reflects a growing appetite for diverse mortgage-backed instruments.
Pérez-Llorca’s legal team advising on the capital markets deal was led by partner Bernardo Reyes Retana and associate Francisco J. Alvarez, supported by Carlos Omar Matsui, Fernando Blanco, and Andrea Villa.
In a parallel transaction, Pérez-Llorca Mexico has counseled HIR Casa (Bienes Programados) — through Banco Invex as trustee and borrower — and to ACFIN as master servicer, in the structuring and implementation of a syndicated structured loan totaling MXP$2.675 billion.
The team advising on the loan included Bernardo Reyes Retana (Partner), Alberto Bustamante (Counsel), Francisco Alvarez (Senior Associate), Carlos Matsui (Senior Associate), Fernando Blanco (Associate), Juan Pablo Corro (Law Clerk), and Andrea Villa (Law Clerk).
