Mexarrend Announces Payment of its Senior International Bond "DOCUFO 9 ¼ 10/11/22"

• The international bond payment concludes the Company's successful refinancing program and demonstrates its financial strength in a challenging market environment.
• This payment corresponds to Mexarrend's first international issuance in 2017 for US$150M, which was mostly repurchased in July 2019 with proceeds from the second international issuance of US$300M.
• In recent months, Mexarrend has used its credit lines and warehouse facilities to maintain a healthy cash level.

MEXICO CITY, Oct. 11, 2022 /PRNewswire/ -- Mexarrend, a leading financial company in the Mexican market, announced today the payment of its Senior International Bond issued in 2017 (DOCUFO 9 ¼). The issuance was originally for US$150M, however most of the issuance was prepaid in 2019 through a tender offer, with US$30.6M remaining.

Despite challenging market conditions driven by rising interest rates and sector turbulence, Mexarrend has demonstrated its category leadership in Mexico and Latin America by consistently fulfilling its obligations.

This payment reflects the Company's strong business model, strict liquidity control and solid institutional relationships. "Concluding our first international bond payment represents a major milestone for the company and reaffirms our successful financing strategy and prudent liquidity management in a challenging economic environment" said Abelardo Loscos, Chief Financial and Sustainability Officer. Adding that, "Meeting our financial obligations demonstrates our commitment to investors and solidifies our position as a leading alternative lender in the region."

The Company also announces that it expects to finalize the legal consolidation of its business with Zinobe - a leading Colombian fintech developing world-class financial products - to establish Tangelo in November. Tangelo is positioned as one of the largest regional financial technology companies, specializing in embedded credit solutions targeting consumers and SME's. 

About Mexarrend

Mexarrend, S.A.P.I. de C.V., has grown to become one of the largest independent leasing (asset-based lender) companies in Mexico in the last 25 years. The Company specializes in offering financing solutions to rapidly growing and underserved small and medium-sized enterprises ("SMEs") for the acquisition of productive assets and equipment to support growth. Mexarrend provides reliable and competitive funding sources through its four main products: capital leases, financing, operating leases, and renting.

Contact Mexarrend

[email protected]

SOURCE Mexarrend, S.A.P.I. de C.V.

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