UNIFIN Closes Largest Mexican Leasing Portfolio ABS

Mexico-based UNIFIN Leasing announced its 17th (UNFIN CB17-3) and 18th (UNFIN CB17-4) leasing securitizations (ABS), within a single trust, using a communicating vessel structure for Ps. 3,500 million ($198.4 million).

Unifin announced the transaction was the largest leasing portfolio securitization in Mexico. Both issuances received high and strong demand from private pension funds, insurance companies, mutual funds and retail investors. The success of this transaction reaffirms the market’s trust in the company, its financial stability, strong operations and growth perspective.

Continuing with its conservative risk management approach, UNIFIN has fixed the rates in the variable tranche of this transaction. As a result, the total weighted average fixed rate for this securitization is 9.0%, up to its five-year maturity.

The issuance, obtained “mx AAA” rating by Standard & Poor’s and HR Ratings. The joint book-runners were Citibanamex, Banorte Ixe, Scotiabank, Actinver and Santander. In addition, the common representative of the transaction was Monex and Citibanamex acted as trustee.

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