MEXICO CITY, Jan. 25, 2019 /PRNewswire/ -- Crédito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Múltiple, Entidad No Regulada (the "Company" or "we") announced today that it has early terminated its previously announced tender offer to purchase for cash (the "Tender Offer"), up to U.S.$313,125,000 aggregate principal amount outstanding (the "Maximum Tender Amount") of its 7.250% Senior Notes due 2023 (the "Notes") (CUSIP Nos. 22548WAA0 / P32457AA4; ISIN Nos. US22548WAA09 / USP32457AA44; and Common Code Nos. 145496446 / 145435706) and its solicitation of consents (the "Consent Solicitation") for proposed amendments to the related indenture (the "Indenture").
The Tender Offer and the Consent Solicitation were made pursuant to the Offer to Purchase and Consent Solicitation Statement dated January 17, 2019 (the "Statement"), and related consent and letter of transmittal. In particular, the Company's obligations to accept for purchase and pay for any Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer or to accept and pay for the Consents that are validly delivered (and not validly revoked) pursuant to the Consent Solicitation were subject to the conditions set forth in the Statement, including, among others, the Financing Condition (as defined in the Statement).
As at the time of this announcement the Company has determined that the Financing Condition has not been satisfied and it does not expect the Financing Condition to be satisfied on January 31, 2019 (being the date the Company expected to announce the early participation results of the Tender Offer and the Consent Solicitation). In accordance with the terms and conditions of the Statement, the Company has taken the decision to terminate the Tender Offer and Consent Solicitation today. This press release confirms the termination of the Tender Offer and the Consent Solicitation.
All Notes tendered in the Tender Offer will be returned promptly to the respective holders thereof without any action required on the part of the holders of such Notes tendered or, if such Notes were tendered using the procedures established in the Automated Tender Offer Program of The Depository Trust Company ("DTC"), will be unblocked in DTC. All consents received in the Consent Solicitation will be rejected without any action required on the part of the holders of the Notes that provided their consents. No consideration will be paid in the Tender Offer and/or the Consent Solicitation for any tendered Notes or consents received.
Requests for documents may be directed to D.F. King & Co., the information agent for the Tender Offer and the Consent Solicitation, the tender agent for the Tender Offer and the tabulation agent for the Consent Solicitation, at (888) 887-0082 (toll-free) or at (212) 269-5550 (collect).
Forward Looking Statements and Disclaimer
This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the U.S. Exchange Act of 1934, as amended. Actual results may differ materially from those reflected in the forward-looking statements. We undertake no obligation to update any forward-looking statement or other information contained in this press release to reflect events or circumstances occurring after the date of this press release or to reflect the occurrence of unanticipated events or circumstances, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.
This press release is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell any securities.
This announcement is released by the Company and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Tender Offer, the Consent Solicitation, and the New Notes Offering (as such term is defined in the Statement).
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS UNLAWFUL
About the Company
The Company is a leading specialty finance company with operations in Mexico, United States, Costa Rica, Honduras, Nicaragua and Panama. It offers innovative financial solutions to segments generally underserved by the traditional banking system. As a result of more than 25 years of experience, it has built a diversified and scalable business platform focused primarily on the following types of financing products: (i) loans paid via payroll deduction, (ii) consumer loans, (iii) loans for used car purchases, (iv) small business loans, and (v) loans to small groups of borrowers. Its business model focuses on providing differentiated, ethical and comprehensive financial services to the low- and lower middle-income segments of the population in the countries where it operates.
For further information about the Company, please visit its website at www.creal.mx. or contact:
Name: Renata Gonzalez
Phone: +52 (55) 5228 9753
SOURCE Credito Real, S.A.B. de C.V., Sociedad Financiera de Objeto Multiple, Entidad No Regulada