CRÉDITO REAL, S.A.B. DE C.V., Sociedad Financiera de Objeto Múltiple, Entidad Regulada Announces Final Results of Tender Offer for Any and All of its Outstanding 7.500% Senior Notes Due 2019
August 03, 2016 at 10:19 am EDT
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CRÉDITO REAL, S.A.B. DE C.V., Sociedad Financiera de Objeto Múltiple, Entidad Regulada announced the final results of the previously announced cash tender offer and consent solicitation, for any and all of its outstanding 7.500% Senior Notes due 2019. The tender offer expired on August 2, 2016. The company further announced that as of the expiration date, the company had received tenders and consents (not validly withdrawn) from the holders of approximately USD 290.1 million, or 68.27% of the total outstanding principal amount of the Notes, including USD 288.3 million principal amount of the Notes that were tendered and not validly withdrawn as on July 19, 2016 (Early Tender Deadline). The company plans to accept for purchase all Notes validly tendered and not validly withdrawn pursuant to the offer to purchase and consent solicitation statement, dated July 6, 2016. As previously announced, holders of Notes who validly tendered and did not validly withdraw their Notes at or prior to the Early Tender Deadline received on July 20, 2016, an amount equal to USD 1,057.50 for every USD 1,000 principal amount of the Notes validly tendered at or before the early tender deadline and accepted in the tender offer, which consists of an amount equal to USD 1,027.50 plus an amount equal to USD 30 for each USD 1,000 principal amount of Notes, plus accrued and unpaid interest from the last interest payment date for the Notes to, but not including, the early payment date.
Credito Real SAB de CV SOFOM ENR, formerly known as Credito Real SAB de CV Sofom ER, is a Mexico-based company that provides consumer financing. The Company provides loans, either by providing direct financing to consumers or by establishing financing programs with consumer financing dealers that sell to Credito Real the collection rights from consumer financing products. Additionally, It provides financing directly to individuals that are employed by corporations with payroll deduction agreements with consumer financing dealers authorized by Credito Real. It operates through a number of subsidiaries, including AFS Acceptance LLC.
CRÉDITO REAL, S.A.B. DE C.V., Sociedad Financiera de Objeto Múltiple, Entidad Regulada Announces Final Results of Tender Offer for Any and All of its Outstanding 7.500% Senior Notes Due 2019