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Credito Real’s planned $200 million subordinated perpetual notes guided to yield 9¼% area
By Rebecca Melvin
New York, Nov. 20 – Mexico’s Credito Real SAB de CV Sofom ER’s planned $200 million of subordinated perpetual notes (expected rating: B+/BB-) were guided to 9¼% plus or minus 1/8% with final terms expected to be fixed on Tuesday, according to a market source.
Guidance was tightened from initial talk in the low to mid 9% range.
UBS Investment Bank, BofA Merrill Lynch and Credit Suisse are bookrunners for the Rule 144A and Regulation S deal, for which proceeds will be used to refinance debt and for corporate purposes.
Mexico-based Credito Real provides consumer financing.
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