Crédito Real finds diversification as euro buyers lap up new name

Mexico, Kio
By Oliver West
30 Sep 2019

Mexican payroll lender Crédito Real brought Latin American high yield corporate issuance back to the European bond markets for the first time in five years last week, in a deal that fed euro buyers’ hunger for new names.

With Lat Am syndicates noticing that European investors have often been taking a larger bulk of Mexican dollar-denominated deals than usual —  30%-40% in some cases — they began to evaluate the possibility of bringing different issuers to the single currency.

BB+/BB+ rated Crédito Real was a strong candidate ...

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