Simpson Thacher Advises Initial Purchaser in Nacional Financiera Offering of Yen-Denominated Bonds
11.03.17
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The Firm recently represented Daiwa Capital Markets America Inc. in connection with the offering and sale by Nacional Financiera, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (“Nafin”) of ¥15 billion aggregate principal amount of its 0.66% Bonds due 2023. The bonds were offered and sold in reliance on Regulation S. Earlier this year, the Firm represented Daiwa in connection with Nafin’s first ever Yen-denominated bond offering.
Nafin is a development bank wholly owned by the Mexican government that provides access to affordable financing to micro-, small- and medium-sized enterprises operating throughout Mexico, as well as entrepreneurs and strategic investment projects in Mexico. The proceeds from the offering will be used to finance the activities permitted pursuant to the organic law applicable to Nafin (Ley Orgánica de Nacional Financiera) and other applicable legislation.
The Simpson Thacher team included Jaime Mercado, Kirsten L. Davis and International Associate Francisco Molina Portela (Capital Markets); and Jasmine Hay (Tax).