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Crédito Real sees $196.3M in early tender take-up of 2023 notes

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Crédito Real sees $196.3M in early tender take-up of 2023 notes

Crédito Real SAB de CV Sociedad Financiera de Objeto Múltiple ER said it had repurchased about $196.3 million in validly tendered notes in its offer to repurchase part of its 7.250% senior notes due 2023, according to a company release.

As of the Sept. 25 early deadline, the early tenders reflected approximately 65.4% of the maximum tender amount worth $300.0 million, with about $103.7 million in notes still available until the Oct. 9 expiration.

Shareholders who access the repurchase offer will receive $1,066.25 for each $1,000 in principal amount of notes, while those who took the early tender offer will receive an extra $30.00 for each $1,000.00 validly tendered, as an early payment.