Crédito Real brings back Lat Am NBFIs
Mexican lender Crédito Real on Monday became the first Latin American non-bank financial institution (NBFI) to tap international bond markets since the coronavirus pandemic began as it raised $500m of seven year debt.
Latin America’s non-bank lenders, which are mostly unregulated, had become — before Covid-19 hit — a solid source of bond supply. A growing number of Mexican issuers, in particular, had tapped the markets in recent years.
Yet in the wake of the pandemic, with consumer credit quality taking a ...