Stamford, CT – March 16, 2017 – Finacity Corporation (“Finacity”) announced that it has successfully launched a future flow receivables securitization for Compañía Minera Autlán, S.A.B. de C.V. [BMV: AUTLANB] (“AUTLAN”). The transaction is publicly listed on the Mexican Stock Exchange (“AUTLNCB 17”) and it includes an unconditional and irrevocable partial guarantee of 33% from Banco de Comercio Exterior, S.N.C. (“Bancomext”) in addition to a credit insurance policy from Atradius Seguros de Crédito, S.A. (“Atradius”). The transaction size is MXN$1.43 billion with a 5 year tenor and it has been assigned a local HRAA- rating by HR Ratings de México, S.A. de C.V. and AA/M rating by Verum, Calificadora de Valores, S.A.P.I. de C.V. Finacity acted as structuring agent and is responsible for ongoing program administration and reporting.
About Autlán
AUTLAN (www.autlan.com.mx, BMV: AUTLANB) was founded in 1953 and is the only producer of manganese ferroalloys and manganese ore in Mexico while also being the largest and only integrated producer in North America. AUTLAN is based in Monterrey, Mexico and has 3 ferroalloys plants and 3 mines throughout the country and exports its products to more than 20 countries. In addition to its Ferroalloy and Mining Divisions, AUTLAN has an Energy Division that produces electricity via a hydroelectric power plant.
About Finacity
Finacity specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and bond administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $100 billion. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world with obligors in approximately 175 countries. For further information, please visit www.finacity.com.
For more information on this transaction, please contact:
Finacity
Antonio Villa
Tel: +1 203 428 3510
Email: avilla@finacity.com