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International bonds: Financiera Independencia, 10% 30mar2015, USD (USP4173SAB09)

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Status
Matured
Amount
200,000,000 USD
Placement
***
Redemption (put/call option)
*** (-)
ACI on
Country of risk
Mexico
Current coupon
-
Price
-
Yield / Duration
-
Calculate in two clicks! yield, duration and other parameters
Calculate in two clicks! yield, duration and other parameters
Calculator What is a calculator?
  • Placement amount
    200,000,000 USD
  • Outstanding amount
    200,000,000 USD
  • Minimum Settlement Amount
    2,000 USD
  • ISIN RegS
    USP4173SAB09
  • Common Code RegS
    049901623
  • CFI RegS
    DBFUFR
  • FIGI RegS
    BBG0000DF8Y9
  • SEDOL
    B58GPN2
  • Ticker
    FINDEP 10 03/30/15 REGS

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Issue information

Profile
Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (Independencia), is a Mexican microfinance lender of personal loans to individuals and working capital loans through group lending microfinance. Independencia provides microcredit loans on an unsecured basis to individuals ...
Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (Independencia), is a Mexican microfinance lender of personal loans to individuals and working capital loans through group lending microfinance. Independencia provides microcredit loans on an unsecured basis to individuals in the low-income segments in Mexico in urban areas of both the formal and informal economy. As of December 31, 2009, Independencia had a total outstanding loan balance of Ps.4,812.3 million, operated 199 offices in 143 cities throughout 31 of Mexico's 32 federal entities and had a total labor force of 9,643 people. The Company listed on the Mexican Stock Exchange on November 1, 2007, where it trades under the symbol "FINDEP." On November 30, 2009 Independencia launched a sponsored Level I American Depositary Receipt (ADR) program in the United States.
Volume
  • Placement amount
    200,000,000 USD
  • Outstanding amount
    200,000,000 USD
Face value
  • Minimum Settlement Amount
    2,000 USD
  • Outstanding face value
    *** USD
  • Increment
    *** USD
  • Face value
    1,000 USD
Listing
  • Listing
    ***

Cash flow parameters

  • Reference rate
    ***
  • Coupon Rate
    ***
  • Day count convention
    ***
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***
  • Maturity date
    ***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

Early redemption terms

***

explore the most comprehensive database

800 000

bonds globally

Over 400

pricing sources

80 000

stocks

9 000

ETF

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Placement

  • Placement method
    Open subscription
  • Placement
    ***
  • Initial issue price (yield)
    (***%)
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • The purpose of placing
    We expect the net proceeds from the sale of the notes will be approximately U.S.$194.9 million after deducting estimated initial purchasers’ discounts, commissions and expenses. We expect to use such net proceeds to reduce the amounts outstanding under certain of our revolving credit lines with third party financial institutions and for general corporate purposes, including potential strategic acquisitions. We expect to make the debt repayments over the course of 2010. We expect that these credit lines will continue to be available to us after these payments are made. More specifically, we expect to use the net proceeds of the offering as follows: approximately U.S.$59.0 million will be used to reduce the amounts outstanding under our existing revolving credit line with HSBC Mexico; approximately U.S.$64.9 million will be used to reduce the amounts outstanding under our revolving existing credit line with Nafinsa; approximately U.S.$15.6 million will be used to reduce the amounts outstanding under our revolving existing credit line with SHF; and approximately U.S.$55.4 million will be used to repay a portion of the debt of Finsol and for general corporate purposes, including potential strategic acquisitions.
Participants
  • Bookrunner
    ***, ***
  • Paying agent
    ***
  • Trustee
    ***

Conversion and exchange

  • Conversion terms
    ***

Additional information

Latest issues

Identifiers

  • ISIN RegS
    ***
  • ISIN 144A
    ***
  • CUSIP RegS
    ***
  • CUSIP 144A
    ***
  • Common Code RegS
    049901623
  • Common Code 144A
    049900694
  • CFI RegS
    DBFUFR
  • CFI 144A
    DBFUFR
  • FIGI RegS
    BBG0000DF8Y9
  • FIGI 144A
    BBG0000CDYZ5
  • SEDOL
    B58GPN2
  • Ticker
    FINDEP 10 03/30/15 REGS
  • Type of security by CBR
    ***

Bond classification

  • Rank: Undefined
  • Registered
  • Coupon bonds
  • Amortization
  • Callable
  • CDO
  • Convertible
  • Dual currency bonds
  • Variable rate
  • For qualified investors (CIS region)
  • Foreign bonds
  • Green bonds
  • Guaranteed
  • Inflation-linked principal
  • Supranational bond issues
  • Inflation-linked coupon
  • Mortgage bonds
  • Perpetual
  • Payment-in-kind
  • Non-Marketable Securities
  • Redemption Linked
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Commercial Bonds
  • Subordinated
  • Sukuk
  • Trace-eligible

Restructuring

***

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