Crédito Real’s $400 Million Global Bond Offering

February 1, 2019

Cleary Gottlieb represented initial purchasers Morgan Stanley & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and Goldman Sachs & Co. LLC in a high-yield global bond offering by Crédito Real S.A.B. de C.V. SOFOM E.N.R. (Crédito Real).

The offering consisted of $400 million 9.5% senior notes due 2026 issued and sold by Crédito Real, and was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The issuance priced on January 31, 2019 and is expected to close on February 7, 2019.

Crédito Real is a leading specialty finance company in Mexico with presence in the United States, Costa Rica, Panama, and Nicaragua. The company focuses on consumer lending and has a diversified and scalable business platform focused primarily on payroll loans, durable goods loans, small business loans, group loans, used-car loans, and personal loans. It offers products to the low- and lower middle-income segments of the population, which historically have been underserved by other financial institutions.