Cleary Gottlieb represented Unifin Financiera S.A.B. de C.V. (Unifin) in an offering of $400 million 9.875% senior notes due 2029.
The offering 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 transaction priced on January 25, 2021, and closed on January 28, 2021. Unifin will use the proceeds of the offering to repay short-term indebtedness and the remainder, if any, for general corporate purposes.
The initial purchasers in the transaction were Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Banco BTG Pactual S.A.—Cayman Branch, Santander Investment Securities Inc., and Scotia Capital (USA) Inc.
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.