Elektra Unit Prices Securitization

Intra Mexicana has raised MXP2.7bn ($199m) through a domestic market securitization. The 2019 floating-rate bonds, backed by receivables of money transfer fees, priced at TIIE+270bp. Proceeds will be used to fund Grupo Elektra’s acquisition of payday lender Advance America and for general corporate purposes. Actinver, Ixe and Value managed the transaction, rated AA minus on a national scale. Intra Mexicana, an electronic money transfer company operating under the brand name Dinero Express, started operations in 1996 and began to expand in Latin America in 2003.