Clifford Chance advises Nomura on US$500 million securitization of Mexican credit card receivables

Global law firm Clifford Chance has advised Nomura Securities International, Inc., as Sole Lead Arranger, Placement Agent, and Initial Purchaser, in connection with the securitization of Mexican credit card receivables originated by Mexican financial technology company Plata, resulting in the issuance of US$135 million principal amount of Floating Rate Senior Notes with the ability to issue up to US$500 million.

This transaction is one of the largest cross-border asset-backed financings for a Mexican digital financial services company to date and marks the first time a Japanese investment bank has participated in a financing of this scale in Mexico’s financial system.

Partner Gianluca Bacchiocchi commented, “We are proud to guide our client in this transaction, which supports innovative financial solutions and demonstrates growing international interest in Mexico’s financial system.”

Bacchiocchi led the transaction along with associates Jorge Vázquez Navarro and David Rondon. Additional support was provided by partners Avrohom Gelber (Tax) and Darren Littlejohn (Capital Markets).