'We are thrilled': Rohatyn Group enters deal with Credito Facil

Economics
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The Rohatyn Group has entered a debt financing agreement with Credito Facil. | Pixabay

The Rohatyn Group recently confirmed plans to go forward with a debt financing agreement with Credito Facil, a Mexican lender.

The agreement serves as The Rohatyn Group's first deal in the Mexican specialty finance sector after two agreements in Colombia, according to a Feb. 10 press release.

“We are thrilled to have closed a financing structure with TRG, its first one in Mexico," Joaquin Hirschfeld, Credito Facil CEO, said in the release.  "We value the importance of establishing a strong relationship with a key international player."

Hirschfield shared the impact funds from the agreement will have.

"This capital will greatly facilitate the expansion of payroll loans, our main line of business in Mexico, and Credito Facil is proud to contribute to the further development of the country’s financial sector," Hirschfield said.

George Monserrat, TRG’s head of private credit investments, shared his joy with the agreement.

“We are excited to expand our specialty finance reach to Mexico, a key market where TRG is active in renewable energy and public equities," he said in the release. “Payroll deduction loans are an attractive lending segment, and Credito Facil has substantial growth potential as shown by the recent signing of new convenios. We have now established a transaction financing structure in Mexico and look forward to supporting Credito Facil’s growth over the coming years.”

Credito Facil, which is based in Mexico City, was founded in 2011 and has grown to operate 47 offices in the country, the release stated. The company specializes in finalizing deals for low and middle-income groups of the public that have little or no availability of credit from commercial banks.

The Rohatyn Group, which is headquartered in New York, is an asset management firm founded in 2002, according to a press release.