SOURCE: Finacity

Finacity

September 14, 2015 09:15 ET

Finacity Facilitates MXN$300 Million Inaugural Consumer Loan Securitization Program for DIMEX

STAMFORD, CT--(Marketwired - Sep 14, 2015) - Finacity Corporation ("Finacity") is pleased to announce that it has successfully facilitated and will serve as ongoing Master Servicer for the MXN$300 Million inaugural consumer loan securitization program of Dimex Capital, S.A. de C.V., SOFOM, E.N.R. The securitization was placed in the Mexican capital markets with a five year tenor and is the first issue out of a MXN$2 billion program that will be secured by a portfolio of consumer loans that are payroll deducted. The securitization has been assigned local AAA ratings by Standard and Poors, S.A. de C.V. and Fitch México, S.A. de C.V.

"I praise Finacity for its dedication, hard work and professionalism. Finacity offered a lot of value added in making sure the data provided was correct and error free and they helped us in making the necessary changes to come up with the right information that was required for the reports," said Roberto Gonzalez, Funding Director of Dimex. "We're proud to have been involved in the inaugural securitization program of Dimex," said Finacity Managing Director Antonio Villa. "The transaction was very well received by the Mexican capital markets by being more than three times oversubscribed and pricing at the tight end of the range, despite difficult market conditions and market volatility. This is a clear testament to the strength of the structure and of Dimex as originator. The reporting provided by Finacity allows investors, rating agencies, trustee and Mexican authorities to know the exact position and composition of the loans held in this securitization program."

A Finacity First

The new program marks the first time Finacity has administered reporting on a publicly rated consumer loan securitization in Mexico. Antonio Villa added that "with the Mexican SOFOM sector under increased credit scrutiny, Finacity offers an essential oversight service to track payment performance and loan integrity." 

About Dimex

Dimex was founded in 1998 and since then it has become one of the leading providers of payroll deducted consumer loans in Mexico with over MXN$1.4 billion in loans and more than 90 branches across the country. For more information, please visit www.dimex.mx.

About Finacity Corporation

Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity currently facilitates the financing and administration of approximately $100 billion of receivables annually. With resources in the USA, Europe and Latin America, Finacity conducts business throughout the world. For more information on our company, please visit www.finacity.com.

Contact Information

  • For more information, please contact Finacity Corporation:

    Antonio Villa
    Managing Director
    Tel: (203) 428-3510
    Email Contact