Mexico’s Dimex secures $75m loan from HSBC

Dimex provides personal loans and specializes in awarding loans to pensioners.

The loan was granted to Dimex through a Mexican irrevocable security trust acting as borrower under the facility. This facility was backed by proceeds from eligible pension loans granted by Dimex to its clients.

It was conveyed to the irrevocable security trust acting as the borrower, where HSBC Mexico has a first-priority beneficial interest.

This is an asset-backed non-recourse financing.

Dimex's obligations under the financing documents are limited to complying with specific financial parameters. The implementation of this facility has involved the participation of a master servicer to assist Dimex in certain servicing activities and issue or validate the reports delivered to HSBC México under the financing documents.

Mexican law firm Nader, Hayaux & Goebel guided HSBC Mexico through the transaction, with a team led by partners Hans Goebel and Julián Garza, with associates Paulina Bracamontes and Diego Konrad.

Dimex was counseled by Villarreal VGF Abogados, with a team led by partner Felipe Fernández Peña, with associates Mauricio Jaime González and Elena Piñones Arsuaga, and José Carlos Valadez Suarez.