Crédito Real covers buyback with new notes

Crédito Real covers buyback with new notes

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Mexico

Mexican consumer financial services company Crédito Real sold $500 million worth of new seven-year non-call-four notes, raising money to cover the buyback of up to $215 million in 7.25% 2023 notes, according to sources involved in the deal. Mexico City-based Crédito Real priced the new 2028 notes at par to yield 8%, in line with where its existing bonds traded in the secondary market, sources said. The consumer lender opened the deal with the initial price talk in the low- to mid-8% area and set

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