Hogan Lovells advised National Commercial Bank Jamaica on MVR securitization issuance
The transaction included an amount of US$300 million
Hogan Lovells advised National Commercial Bank Jamaica on MVR securitization issuance
The transaction included an amount of US$300 million
Global law firm Hogan Lovells has advised the National Commercial Bank Jamaica Limited, the largest in the country, on an issuance under its Merchant Voucher Receivables (MVR) securitization program.
The transaction included a US$300 million principal number of Series 2022-1 Fixed Rate Notes due in 2032. The notes were issued by the Jamaica Merchant Voucher Receivables Limited in a private placement.
The MVR securitization programs are primarily dependent on the usage of credit cards issued in a country outside of the destination country. The notes under this transaction are backed by future flows due from Visa and Mastercard international merchant voucher receivables.
The Hogan Lovells team was led by New York capital markets partner Emil Arca and included counsel Russell Slanover, associate Lauren Kimmel, and law clerk Zachary Suggs.