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White & Case Advises Cetelem on a Mexican Pesos–Denominated Issuance of Certificados Bursátiles

Global law firm White & Case LLP has advised Cetelem, S.A. de C.V., SOFOM, E.R. (Cetelem), on its Mexican pesos-denominated issuance of debt securities in the form of CBs (certificados bursátiles), publicly offered in the Mexican securities market and issued under its locally registered CB program for MXN 1.9 billion (approximately US$95 million), at a fixed interest rate of 9.38 percent due in March 2026, with a guarantee granted by its parent company, BNP Paribas, S.A., in benefit of the holders of the CBs. 

The certificados bursátiles were placed via a local public placement on the Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV), and registered on the National Securities Registry managed by the Mexican National Banking and Securities Commission. 

Cetelem will use the proceeds resulting from the issuance for general corporate matters, in particular granting loans to its clients. 

Established in September 2004, Cetelem is a Mexican financial institution specializing in consumer credit and financial services within the automotive industry. Cetelem is a wholly owned subsidiary of, and the commercial financing brand for, BNP Paribas, a European leader in banking and financial services. 

White & Case has advised Cetelem on all of its securities offerings performed in Mexico since 2014.

The White & Case team was led by partner Manuel Groenewold and included associates Simon Micha and Viridiana Alanis (all in Mexico City).

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