Crédito Real, S.A.B. de C.V., SOFOM, E.N.R. Approves Dividend, Payable in the Second Half of 2020; Arranges Syndicated Credit Line and Receives 3 Credit Line Extensions
April 21, 2020
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Crédito Real, S.A.B. de C.V., SOFOM, E.N.R. approved dividend payment of MXN 0.75 per share to its shareholders at Annual General Meeting held on April 3, 2020. In order to preserve liquidity and protect capitalization, the dividend payment will be distributed in second half of 2020.
The company arranged USD 110 million syndicated credit line, with 3 year maturity on February 21, 2020. From the proceeds, USD 60 million where delivered to Crédito Real and the remaining USD 50 million were allocated to Instacredit. The company also received three credit line extensions for a total amount of MXN 2.3 billion with a local and two international banks. Additionally, revolvers maturing during the quarter were successfully renewed.
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., SOFOM, E.N.R. Approves Dividend, Payable in the Second Half of 2020; Arranges Syndicated Credit Line and Receives 3 Credit Line Extensions
CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA 
