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OFFON

CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA

(CREAL *)
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Crédito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Múltiple, Entidad No Regulada Announces the Early Results and Extends Early Tender/Consent Payment Deadline of Its Cash Tender Offer for Up to USD 215,000,000 of Its 7.250% Senior Notes Due 2023

01/21/2021 | 08:20am EST

Crédito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Múltiple, Entidad No Regulada announced that it has extended the early tender date and consent payment deadline of its previously announced (i) tender offer to purchase for cash up to USD 215,000,000 aggregate principal amount outstanding (the "Maximum Tender Amount") of its 7.250% Senior Notes due 2023 (the "Notes") (CUSIP Nos. 22548WAA0 /P32457AA4; ISIN Nos. US22548WAA09 /USP32457AA44; and Common Code Nos. 145496446 /145435706) and (ii) solicitation of consents (the "Consent Solicitation") for proposed amendments (the "Proposed Amendments") to the indenture dated as of July 20, 2016 (the "Indenture") under which the Notes were issued, from 5:00 p.m., New York City time, on January 20, 2021, to 5:00 p.m., New York City time, on January 21, 2021. According to information received from D.F. King & Co. Inc., the information agent (the "Information Agent") for the Tender Offer and the Consent Solicitation, as of 5:00 p.m., New York City time, on January 20, 2021, the Company has received Consents (including Consents in respect of Notes tendered in the Tender Offer) representing an aggregate principal amount equal to USD 211,869,000 (or 49.6% of the aggregate principal amount outstanding of Notes). Additional Notes to be tendered (or Consents to be delivered in respect of Notes) representing an aggregate principal amount equal to USD 1,582,500 (or 0.4% of the aggregate principal amount outstanding of Notes as of the date of this press release) are necessary to obtain the Required Consents. Accordingly, subject to the terms and conditions of the Tender Offer and Consent Solicitation being satisfied or waived, and to the Company's right to amend, extend, terminate or withdraw the Tender Offer and Consent Solicitation, the Company expects that payment for all Notes validly tendered (and not validly withdrawn) and Consents validly delivered (and not validly revoked) prior to the Early Tender/Consent Payment Deadline and accepted by the Company will be made on the business day the Company selects promptly following the Early Tender/Consent Payment Deadline, or the business day on which the Company waives the conditions for the consummation of the Tender Offer and Consent Solicitation, which is expected to be January 22, 2021 (the "Initial Settlement Date"). Except above, the terms of the Tender Offer and Consent Solicitation remain unchanged, including, without limitation, the Withdrawal/Revocation Time, the Expiration Time and the Final Settlement Date each as defined in the Statement. Holders who have previously validly tendered (and not withdrawn) their Notes or delivered (and not revoked) their Consents will not need to re-tender their Notes or re-deliver their Consents, to be eligible to receive the Total Consideration or the Consent Payment, as applicable. In accordance with the terms of the Tender Offer and the Consent Solicitation, the Withdrawal/Revocation Time expired at 5:00 p.m., New York City time, on January 20, 2021. As a result, Notes tendered in the Tender Offer and Consents delivered in the Consent Solicitation cannot be withdrawn or revoked, as applicable, except as may be required by applicable law. The Expiration Time of the Tender Offer remains 11:59 p.m. New York City time, on February 3, 2021, unless extended or earlier terminated by the Company in its sole discretion, subject to applicable law.


© S&P Capital IQ 2021
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Financials
Sales 2021 5 925 M 270 M 270 M
Net income 2021 800 M 36,5 M 36,5 M
Net Debt 2021 - - -
P/E ratio 2021 3,83x
Yield 2021 -
Capitalization 2 656 M 121 M 121 M
Capi. / Sales 2021 0,45x
Capi. / Sales 2022 0,37x
Nbr of Employees 657
Free-Float 73,0%
Chart CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA
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Technical analysis trends CRÉDITO REAL, S.A.B. DE C.V., SOCIEDAD FINANCIERA DE OBJETO MÚLTIPLE, ENTIDAD NO REGULADA
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 7,41 MXN
Average target price 12,70 MXN
Spread / Average Target 71,4%
EPS Revisions
Managers and Directors
Carlos Enrique Ochoa Valdés Deputy CEO & Chief Financial Officer
Ángel Francisco Romanos Berrondo Chairman
Jose Juan Gonzalez Abundis Chief Operating Officer
Iser Rabinovitz Stern Independent Non-Executive Director
José Eduardo Nicolás Esteve Recolóns Independent Non-Executive Director