Unifin launches exchange, plots new deal

Adobe, mexico, peso, gold, silver, coins, LatAm, FX, currency, Mexican peso, 575
By Oliver West
21 Jan 2021

Mexican non-bank lender Unifin Financiera is planning an eight year bond issue of up to $500m, with up to $200m set to come via an exchange offer for existing bonds. But bondholders participating in the exchange are unlikely to receive much by way of increased returns for pushing out their maturities.

Just over a week after payroll lender Crédito Real became the first Latin American non-bank financial institution to issue in international markets since the coronavirus pandemic began, BB-/BB rated financing and leasing company Unifin launched an exchange offer for $200m of its 7% 2022s, $398.02m of its 7.25% 2023s ...

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