Findep, a Leading Mexican Consumer Lender, Issues $250 Million Senior Notes

July 13, 2017

New York – Paul Hastings LLP, a leading global law firm, represented the initial purchasers in an offering of senior unsecured notes by Financiera Independencia, S.A.B. de C.V., a leading Mexican consumer lender, in an international bond offering.  The offering involved the issuance of $250 million of 8.0% Senior Notes due 2024 pursuant to Rule 144A and Regulation S.  The initial purchasers involved were Barclays, HSBC, BCP Securities and Actinver.  The proceeds will be used to redeem Findep’s outstanding senior notes due 2019 and repay other indebtedness.  Findep opted to access the international markets opportunistically ahead of elections in Mexico with the goal of extending maturities.

Latin America practice partners Taisa Markus and Mike Fitzgerald led the Paul Hastings team, which also included associate Stephanie Monroe Rohlfs and foreign associate Jorge Garduno.

Paul Hastings attorneys also recently advised on the US$912 million international IPO of Jose Cuervo, represented Banco del Bajio, S.A. on its approximately US$500 million international IPO, represented Sigma Alimentos, S.A. de C.V., on a €600 debt issuance and Mexican automotive part manufacturer Nemak in a €500 million debt issuance, and advised on two notable out-of-court debt restructuring deals for Arendal, S.A. and Industrias Unidas, S.A.. The practice was also recognized by LatinFinance for Syndicated Loan of the Year and Structured Financing of the Year for their work on deals related to the New International Airport of Mexico City project, and seven Paul Hastings attorneys were recognized among Latin America's Top 100 Lawyers by Latinvex (more than any other firm), a leading Latin America business publication.

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