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Mexico’s Unifin tenders, seeks consents for 6¼% senior notes due 2019
By Susanna Moon
Chicago, Sept. 9 – Mexico’s Unifin Financiera, SAB de CV, Sofom ENR began a tender offer and consent solicitation for its 6¼% senior notes due 2019.
The total purchase price will be $1,050 for each $1,000 principal amount of notes tendered by 5 p.m. ET on Sept. 21, the early tender date.
The total amount per $1,000 principal amount consists of the tender offer payment of $1,020 and an early tender payment of $30.
Holders who tender after the early deadline will receive the total amount less the early premium.
The issuer also will pay accrued interest.
The tender offer will end at midnight ET on Oct. 5.
Tendered notes may be withdrawn before the early deadline.
The company also is soliciting consents to amend the notes indenture to eliminate its obligation to comply with substantially all of the covenants and some events of default and to shorten the minimum notice period required for a redemption to six business days from 30 days.
Holders who tender their notes must deliver consents, and holders may not give consents without tendering the related notes.
To amend the notes, the company must secure consents for at least a majority of the outstanding notes.
The early settlement date is expected to be Sept. 27.
Credit Suisse Securities (USA) LLC (800 820-1653), Citigroup Global Markets Inc. (212 723-6106 or 800 558-3745) and UBS Securities LLC (203 719-4210 or 888 719-4210) are the dealer managers and solicitation agents. D.F. King & Co., Inc. (888 628-1041, 212 269-5550 or unifin@dfking.com) is the tender agent and information agent.
Unifin is a Mexican leasing company operating as a non-banking financial services company based in Mexico City.
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