Unifin begins exchange offer on three series of senior notes

By Taylor Fox

New York, Jan. 20 – Unifin Financiera, SAB de CV began a private exchange offer for three series of outstanding senior notes, according to a company announcement.

The offer includes the following notes in exchange for up to $200 million of 9% senior notes due 2029, by order of acceptance priority level:

• Outstanding $200 million 7% senior notes due 2022 (Cusip: 90471MAB8) for $1,000 per $1,000 of notes tendered early and $950 per $1,000 of late participation notes tendered;

• Outstanding $398,021,000 7¼% senior notes due 2023 (Cusip: 90470TAA6) for $1,000 per $1,000 of notes tendered early and $950 per $1,000 of late participation notes tendered; and

• Outstanding $442.55 million 7% senior notes due 2025 (Cusip: 90470TAB4) for $955 per $1,000 of notes tendered early and $905 per $1,000 of late participation notes tendered.

Unifin will also pay interest on the notes tendered.

If the exchange of all old notes tendered on or prior to the early participation date would cause Unifin to issue an amount of new notes that would result in an amount of such new notes to be issued as consideration in the offer in excess of the offer cap, then the offer will be oversubscribed and Unifin will not accept for exchange any old notes tendered after the early participation date.

If the offer is not oversubscribed at the early participation date and the exchange of all old notes validly

tendered on or prior to the expiration date would cause Unifin to issue an amount of new notes that would result in an exchange consideration in excess of the offer cap, then the offer will be oversubscribed at the expiration date, and Unifin will accept for exchange all old notes tendered on or prior to the early participation date and then accept for exchange any old notes tendered after the early participation date pursuant to the acceptance priority procedures.

Notes tendered may be withdrawn until 5 p.m. ET on Feb. 2, the early participation date.

The offer will expire at 11:59 p.m. ET on Feb. 17.

D.F. King & Co., Inc. (800 515-4479 or 212 232-3233) is the information and exchange agent for the offer and Barclays Capital Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are the global coordinators and lead dealer managers. Banco BTG Pactual SA, Cayman Branch, Santander Investment Securities Inc. and Scotia Capital (USA) Inc. are dealer managers.

Mexico City-based Unifin is a leasing company operating as a non-banking financial services company

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