Unifin in $128 Million Exchange Offer

February 19, 2021

Cleary Gottlieb represented Unifin Financiera S.A.B. de C.V. (Unifin) in its offer to exchange new 9.875% senior notes due 2029 for its outstanding 7% senior notes due 2022, 7.25% senior notes due 2023, and 7% senior notes due 2025.

The exchange offer launched on January 20, 2021, and was subject to a $200 million limit on the aggregate principal amount of new notes to be issued. On February 2, 2021, Unifin elected to exercise its early settlement option. On February 4, 2021, Unifin issued and delivered approximately $127 million of new notes to holders of existing notes accepted for exchange. The exchange offer expired on February 17, 2021, and an additional $1.5 million aggregate principal amount of new notes were issued and delivered to holders on February, 19, 2021, the final settlement date. The exchange offer was conducted concurrently with an offering of new notes for cash. The new notes offered and sold as part of the notes offering amounted to $400 million. The total amount of new notes outstanding after the notes offering and the exchange offer is approximately $530 million.

The dealer managers in the exchange offer were Barclays, Citigroup, Goldman Sachs, Banco BTG Pactual, Santander, and Scotia Capital.

Unifin is a Mexican publicly traded company that specializes in leasing, factoring, and car and commercial loans. Founded in 1993, it is the fourth-largest financial institution in terms of market share and loans to small- and medium-sized enterprises in Mexico.