Credito Real launches tender offer for 2015 notes

Credito Real launches tender offer for 2015 notes

Bonds

Mexican lender Credito Real launched a tender offer for any and all of its outstanding 10.25% $210m April 2015 senior notes on Wednesday. The buyback offer is open until March 24, with an earlybird deadline on March 10. Early participants will be paid a cash price of 109.5. Bonds tendered after that will be bought back at a cash price of 106.5. The company may issue a new note after the buyback, LatinFinance understands. It sold the bond in 2010, first issuing $150m in April and tapping the deal

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