Clifford Chance Advises Nomura on US$500 Million Securitization of Mexican Credit Card Receivables

Clifford Chance advised Nomura Securities International, Inc., acting as sole lead arranger, placement agent and initial purchaser, in respect of the securitization of Mexican credit card receivables originated by Mexican financial technology company Plata. The transaction resulted in the issuance of US$135 million principal amount of floating-rate senior notes, with the facility to issue up to US$500 million in aggregate. The securitization packages credit card receivables originated by Plata and establishes a structure capable of accommodating further issuances up to the stated capacity. This deal is one of the largest cross-border asset-backed financings to date for a Mexican digital financial services company and marks the first time a Japanese investment bank has participated in a financing of this scale within Mexico's financial system. Clifford Chance represented Nomura Securities International, Inc. with a team composed by: Partner Gianluca Bacchiocchi (lead on the transaction), associates Jorge Vázquez Navarro and David Rondon; additional support was provided by Partner Avrohom Gelber (Tax) and Partner Darren Littlejohn (Capital Markets).

Clifford Chance Advises Nomura on US$500 Million Securitization of Mexican Credit Card Receivables

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