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ARTICLE · 29 APRIL 2021

Watershed Bond Issuance For Grupo Elektra Subsidiary

Mayer Brown
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This article analyzes Nueva Elektra del Milenio's Rule 144A/Regulation S capital markets offering in January 2021 which featured a future flow offshore structure, excellent coverage levels, and a parent guarantee that resulted in ...

MexicoFinance and Banking
Douglas Doetsch
Douglas Doetsch
Juan Pablo Moreno
Juan Pablo Moreno
Gabriela Sakamoto
Gabriela Sakamoto
Daniel Whitmore
Daniel Whitmore
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Nueva Elektra del Milenio's Rule 144A/Regulation S capital markets offering in January 2021 featured a future flow offshore structure, excellent coverage levels, and a parent guarantee that resulted in an historic and landmark transaction for Nueva Elektra del Milenio, Mexico and Latin America. This article provides background and further detail.

Nueva Elektra del Milenio's ("NEM") debut bond offering in January 2021 was a milestone financing for the capital markets in Mexico and the Latin American region. The US$500 million 4.875% fixed rate notes were issued by a special purpose vehicle in the form of a fiduciary estate organized in Luxembourg (the "SPV") and secured by remittance flows originated in the US, processed through designated money transfer operators (each, an "MTO") and delivered by NEM to beneficiaries in Mexico.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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