By Marisa Wong
Los Angeles, Jan. 26 – Unifin Financiera, SAB de CV announced it priced $400 million of 9 7/8% senior notes due 2029 (BB-/BB) on Monday.
The notes will be guaranteed by subsidiaries Unifin Credit, SA de CV, Sofom, ENR and Unifin Autos, SA de CV.
The Rule 144A and Regulation S notes are expected to be issued on Jan. 28.
Unifin will also issue notes with identical terms, other than the issue date and issue price, under a concurrent exchange offer for three series of existing senior notes due 2022, 2023 and 2025. The exchange notes will be consolidated, form a single series and be fully fungible with the new notes.
The financial institution is based in Mexico City.
| Issuer: | Unifin Financiera, SAB de CV
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| Guarantors: | Unifin Credit, SA de CV, Sofom, ENR and Unifin Autos, SA de CV
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| Issue: | Senior notes
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| Amount: | $400 million
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| Maturity: | 2029
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| Coupon: | 9 7/8%
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| Call options: | At 104.938 beginning in 2025, at 102.469 beginning in 2026 and at par beginning in 2027
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| Equity clawback: | At 109.875
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
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| Ratings: | S&P: BB-
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| Fitch: BB
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| Distribution: | Rule 144A and Regulation S
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