DLA Piper advises Crédito Real in USD 500 million senior notes offering and related USD 215 tender offer and consent solicitation
February 09, 2021 at 02:00 pm EST
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DLA Piper advised Crédito Real S.A.B. de C.V., SOFOM, E.N.R., in its $500 million issuance of 8% senior notes due 2028 and in the related $215 million tender offer and consent solicitation with respect to Crédito Real's 7.250% notes due 2023. Crédito Real intends to use net proceeds from the senior notes offering to refinance existing liabilities, including the tender offer of the 2023 senior notes, as well as for general corporate purposes. In addition to Farias (New York and San Diego), the DLA Piper team advising Crédito Real included partners Christopher Paci(New York), Nicolas Teijeiro(Buenos Aires) and Edgar Romo(Mexico City), as well as associate Javier Pichardini (Mexico City) and consultant Cristian Gastelum (Mexico City). DLA Piper's global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.
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 NO REGULADA 
