trending Market Intelligence /marketintelligence/en/news-insights/trending/F1cj1tnEVhWY--3YLiniDg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Crédito Real places $625M in senior notes

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Crédito Real places $625M in senior notes

Crédito Real SABde CV Sociedad Financiera de Objeto Múltiple ER said it has tapped theinternational markets with the placement of $625 million in senior notes due 2023.

The notes have a 7.250% semiannual coupon at a $99.326 priceand are callable on or after the fourth anniversary of the settlement date, thecompany said in a July 20 statement. They have been rated BB+ global scale by FitchRatings and Standard & Poor's.

The book was 1.9x oversubscribed, which was attributed to "investors'confidence in Credito Real's business model."

The company said it will use the net proceeds for general corporatepurposes, as for the repayment of certain indebtedness, including the on the 7.500% seniornotes due 2019.

Barclays Capital Inc., Morgan Stanley & Co. LLC and DeutscheBank Securities Inc. acted as joint book runners.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.