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Crédito Real places $625M in senior notes


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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.

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