Crédito Real brings back Lat Am NBFIs

Mexico, peso, Santander, Mexican, bank, currency, EM, LatAm, 575
By Oliver West
12 Jan 2021

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 ...

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