Corporate Debt Restructuring Masterclass

18 July 2022 (Mon), 5pm Singapore/HK time

Mexican lender Unifin bonds fell due to concerns among investors over the lender’s ability to tap the bond market and refinance debt due in 2023. The concerns came recently after Credito Real defaulted its franc-denominated bonds and Alpha Holdings reported an accounting error last year that led the latter to file for bankruptcy. Unifin is focusing on cash generation and has access to the local markets. The company said that, if necessary, it could consider an $100mn equity injection. Unifin has $200mn in bonds due on August 12. Rafael Elias, managing director of Latin American corporate credit strategy at Banctrust & Co. said, “The debacle of Alpha and Credito Real have pretty much shut down access to the international markets for the Mexican industry, so what once was their most important source of funding operations, is for all practical purposes, gone.”

Unifin’s USD bonds were down with its 7% 2025s down 2.3 points to 54.7.

For the full story, click here

Show Buttons
Hide Buttons