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Credito Real Says Debt Deal Reached With Some Creditors (1)

Aug. 9, 2022, 7:38 PM

Credito Real SAB said it struck a deal with “several” creditors on the liquidation of its liabilities, marking a step in what has become a lengthy saga of default and bankruptcy for the Mexican payroll lender.

Negotiations will continue with creditors that still haven’t been paid, the company said in a statement on Tuesday. Credito Real’s dollar bonds due in 2023 extended losses to be quoted at just 2.8 cents on the dollar, according to indicative pricing data compiled by Bloomberg.

The announcement comes after Mexico’s biggest non-bank lender, Unifin Financiera SAB, said it was halting bond payments as ...