Credito Real tenders, seeks consents for 10¼% senior notes due 2015

By Susanna Moon

Chicago, Feb. 26 - Credito Real, SAB de CV said it began a tender offer and consent solicitation for its outstanding 10¼% senior notes due 2015.

The total purchase price will be $1,095 per $1,000 of notes tendered by 5 p.m. ET on March 10, the early tender date.

The total amount includes an early tender payment of $30 per $1,000 of notes.

Those who tender after the early deadline will receive the total payment less the early amount.

The tender offer will end at midnight ET on March 24, with early settlement set for March 13.

Tendered notes may be withdrawn by the early tender deadline.

The company also will pay accrued interest.

Holders who tender their notes must deliver consents and they may not deliver consents without tendering notes.

Barclays (212 528-7581 collect or 800 438-3242) and BofA Merrill Lynch (646 855-8988 collect or 888 292-0070) are the dealer managers and solicitation agents. D.F. King & Co., Inc. (800 431-9645 or banks and brokers may call collect at 212 269-5550) is the tender agent and information agent.

Credito Real is a Mexico City-based consumer financing services company.

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