February 4, 2019 |
Mexico's Crédito Real has sold $400m in cross-border bonds after delaying the deal for more than a week.
The bookrunners Morgan Stanley, Barclays, Citi and Goldman Sachs put the initial price talk in the "high 9s" and priced the 2026 notes at 9.5%, said a banker away from the deal.
"They did well and received $900m in orders," the source said.
Crédito Real intended to sell at least $500m in cross-border bonds, with the option to increase the deal to $700m, but it cut the deal to $300m to $350
Mexican lender earns $400m in the cross-border market after more than a week of delays