Mexican lender Credito Real clarified that it is still working on getting a credit facility to pay $185.7mn in franc-denominated bonds due in 9 February. The announcement came after the company previously declared on its webpage that it had already secured a financing commitment of at least $120mn through a credit line. The statement has been removed from its webpage. Credito Real said that the company is continuing to work diligently on getting a credit facility and will give an update as soon as it has materialized. Credito Real was downgraded to B- by S&P two days ago.

Credito Real’s USD bonds were down with its 7.25% 2023s down 17 points to 57.7.

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Separately, another Mexican financial services company Unifin Financiera’s saw its dollar bonds fall 4-8% on Wednesday. While the reason for the fall is not known, negative sentiment around Credito Real could have weighed on Unifin’s bonds.

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