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), and Gabriela Sakamoto (DC), Gary Silverman (London) and Daniel Whitmore (Chicago) and associates Luis Schrader (Chicago) and Jessica Solis (NY).