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Crédito Real launches tender offer for 2023 notes

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Crédito Real launches tender offer for 2023 notes

Crédito Real SAB de CV Sociedad Financiera de Objeto Múltiple ER launched a cash tender offer to purchase up to about US$313.1 million in aggregate principal amount of its outstanding 7.250% senior notes due 2023.

The consideration is US$980 for each US$1,000 in principal amount of notes that are validly tendered and accepted for purchase, according to a press release.

The company is also offering an early tender payment of US$30 for each US$1,000 in principal amount of notes tendered at or prior to 5 p.m. New York City time on Jan. 31.

The tender offer is set to expire at 11:59 p.m. New York City time on Feb. 14.