By: Steven Ongenaet
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Advising investors on the public offering of Be Grand’s CKD fund.
NHG advised the investors to the public offering of structured notes (certificados bursátiles fiduciarios de desarrollo) or CKDs placed in the Mexican market with an initial issuance amount of $800 million Pesos plus additional commitments, through a capital call mechanism, for a total committed issuance amount of $4 billion Pesos (approximately US$216 million) issued by Administradora Be Grand CKD17, S.A. de C.V. as manager and Be Grand CKD 17, S.A. de C.V. as settlor and co investor (jointly, “Be Grand”).
This CKD fund is the first for Be Grand as sponsor, known in Mexico for their high end housing developments in up and coming areas in Mexico City. The fund’s investments will benefit from Be Grand’s expertise and recognized brands when developing housing, commercial and services projects throughout Mexico.