left-caret

NEWS

Crédito Real, S.A.B. de C.V. Announces Landmark Perpetual Bond Offering

November 21, 2017

New York - Paul Hastings LLP, a leading global law firm, represented Crédito Real, S.A.B. de C.V., one of the largest specialty finance companies in Mexico and with a growing U.S. presence, in an historic international hybrid securities offering.  The offering involved the issuance of $230 million of 9.125% Subordinated Perpetual Notes pursuant to Rule 144A and Regulation S.
This offering is understood to be the first high yield hybrid securities offering by a non-bank financial institution in Latin America.  The company intends to use the proceeds to repay certain indebtedness and since the perpetual bonds are treated as equity in the capital structure, the transaction will enhance the company’s credit profile.  The underwriters involved were UBS, BofA Merrill Lynch and Credit Suisse.

international_globe_atlas_map_earth_sphere_round_glass_desk_ball_north_america_market_economy_mono_dark

Crédito Real announced the first high yield hybrid securities offering by a non-bank financial institution in Latin America.

Paul Hastings attorneys have also represented Crédito Real in its IPO and prior bond offerings and liability management exercises.

Latin America practice partners Mike Fitzgerald and Joy Gallup led the Paul Hastings team, which also included partner Andy Short, counsels David Makso, Pedro Reyes and Wendell Faria, associates Stephanie Rohlfs, foreign associate Laura Dinora Martinez, and Hannah Kropp.

At Paul Hastings, our purpose is clear—to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

Practice Areas

Latin America

Tax

Corporate

Securities and Capital Markets


SIGN UP FOR NEWS INSIGHTS

MEDIA CONTACTS

Corporate, Litigation, Real Estate, Intellectual Property, Life Sciences, and Employment

Becca Hatton

Paris

Katy Foster

Europe

Miranda Ward

Submission Requests

Firmwide Inquiries

Elliott Frieder