Paul Hastings Represents Credito Real in $425 Million Notes Offering and $210 Million Cash Tender Offer

March 18, 2014

New York, NY – Paul Hastings LLP, a leading global law firm, represented Credito Real, a Mexico-based consumer lender, in connection with its international issuance of high-yield debt securities. The offering was underwritten by Barclays, Bank of America Merrill Lynch and Credit Suisse and involved the initial issuance of $350 million of 7.500% Senior Notes due 2019 (“new notes”) pursuant to Rule 144A and Regulation S, which was shortly followed by an additional issuance of $75 million of new notes pursuant to a reopening due to high investor demand. The initial offering was said to be more than four times oversubscribed and is the first high-yield bond offering out of Mexico this year.

Concurrently with the new notes offering, Paul Hastings also represented Credito Real in connection with its cash tender offer for any and all of its $210 million 10.250% Senior Notes due 2015 (the “2015 notes”) issued in 2010, and the related consent solicitation to amend the provisions of the 2015 notes. The dealer managers of the tender offer were Barclays and Bank of America Merrill Lynch.

Paul Hastings previously represented Credito Real in its initial public offering in October 2012.

Credito Real intends to use the proceeds from the sale of the new notes to fund the tender offer, to repay certain indebtedness and, to the extent any proceeds remain, for general corporate purposes.

Latin America practice partners Mike Fitzgerald and Joy Gallup led the Paul Hastings team, which also included of counsel Pedro Reyes, associate Ulric Lewen and foreign associate Leopoldo Gomez-Grassi.

Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.

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