MEXICO CITY--(BUSINESS WIRE)--Unifin Financiera, S.A.B. de C.V., SOFOM, ENR (“UNIFIN” or “the Company”), announced today that, in connection with the outstanding US$50,629,000 amount of its 2019 senior notes (“the 2019 Notes”), the Company has negotiated new terms for its cross-currency swaps used for hedging purposes.
Specifically, the 2019 Notes were fully hedged for both principal and interest from issuance to maturity at a variable rate of TIIE + 4.20% and an exchange rate of Ps. 12.98 per U.S. dollar. The Company has renegotiated the conditions of its cross-currency swaps to a fixed rate of 5.00% and an exchange rate of Ps. 14.20 per U.S. dollar. The updated terms reduce the impact of macroeconomic volatility on UNIFIN’s margins and improve its financing conditions, in line with the Company’s conservative risk management approach.
UNIFIN is very satisfied with the new terms of its hedging instruments and reaffirms its commitment to the market to expand and generate new business.
UNIFIN’s shares are listed on the Bolsa Mexicana de Valores under the ticker “UNIFIN
This document may contain certain forward-looking statements. These statements are non-historical facts, and they are based on the current vision of the Management of Unifin Financiera, S.A.B. de C.V., SOFOM, ENR for future economic circumstances, the conditions of the industry, the performance of the Company and its financial results. The terms "anticipated", "believe", "estimate", "expect", "plan" and other similar terms related to the Company, are solely intended to identify estimates or predictions. The statements relating to the declaration or the payment of dividends, the implementation of the main operational and financial strategies and plans of investment of equity, the direction of future operations and the factors or trends that affect the financial condition, the liquidity or the operating results of the Company are examples of such statements. Such statements reflect the current expectations of the management and are subject to various risks and uncertainties. There is no guarantee that the expected events, trends or results will occur. The statements are based on several suppositions and factors, including economic general conditions and market conditions, industry conditions and various factors of operation. Any change in such suppositions or factors may cause the actual results to differ from expectations.