February 28, 2017 |
Credito Real has secured $110m in financing through a new syndicated loan led by Credit Suisse, LatinFinance has heard.
Six lenders contributed to the three-year facility, which priced at 550bp over Libor. The new credit replaced a two-year $100m loan that Credito Real signed in June 2015. The old loan involved 10 banks and priced at 610bp over Libor.
"Prices have tightened, along with overall bond spreads," a banker in New York said, explaining the lower margin in the new facility.
Mexican consumer finance company gets $110m from six banks