Januar 21. 2021

Mayer Brown represents initial purchasers in $500 million remittances securitization

Mayer Brown represented Jefferies Group LLC, BCP Securities, LLC and Credit Suisse Securities (USA) LLC as initial purchasers in a $500 million issuance by Mexico Remittances Funding Fiduciary Estate of Series 2021-1 fixed rate notes secured by a remittances from Nueva Elektra del Milenio, S.A. de C.V.’s money transfer business and guaranteed by Grupo Elektra, S.A.B. de C.V., a major retail and financial services Mexican conglomerate.

This transaction is the largest future flow securitization done in Mexico and the largest securitization of cross-border remittance flows done in Latin America.

The Mayer Brown team included Banking & Finance partners Doug Doetsch, Juan Moreno (both Chicago), Ariel Ramos (Mexico City) and Gabriela Sakamoto (DC), counsel Jan Boker (Mexico City), Gary Silverman (London) and Daniel Whitmore (Chicago) and associates Javier Garibay (Mexico City), Luis Schrader (Chicago) and Jessica Solis (NY).

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