MONTERREY, NUEVO LEON, MEXICO / ACCESSWIRE / October 3, 2019 / Servicios Corporativos Javer S.A.B. de C.V., (BMV:JAVER) ("Javer" or "the Company") informed the investing public today that the Company shall redeem all its outstanding 9.875% Senior Notes due in 2021 (CUSIP No. 81763T AC7 / P8585L AC6; ISIN No. US81763TAC71 / USP8585LAC655) ("the Bonds").
The redemption will be completed with the resources obtained from an available credit and guaranty agreement ("Credit Agreement") that will be funded by a syndicate of banks and institutional investors. This Credit Agreement is composed of a Mexican peso tranche of Ps. 2,745,250,000 and a USD tranche of US$ 21,000,000, which are equivalent to 87% and 13%, respectively, of the total principal amount.
The Credit Agreement matures in 5 years and is guaranteed by several assets of the Company and its subsidiaries through the signing of a trust guarantee and payment contract, subsidiary stock pledge agreement and pledge contract without transfer of possession. The redemption date will be on November 14, 2019. The availability of the Credit Agreement is subject to various conditions, which are expected to be fulfilled on or prior to the redemption date.
With this transaction, Javer completes the process of improving its debt profile, extending maturities and lowering financing costs.
About Javer
Servicios Corporativos Javer S.A.B. de C.V. is the largest housing development company in Mexico in terms of units sold, specializing in the construction of low income, middle income and residential housing. The Company began operations in 1973, and is headquartered in the city of Monterrey, Nuevo Leon, with operations in the states of Aguascalientes, State of Mexico, Jalisco, Nuevo Leon, Quintana Roo, Queretaro and Tamaulipas. The Company developed a vertical and residential project in Mexico City in 2016 and is currently working on its next project. Javer is the nation's largest supplier of new housing for the Infonavit system, registering 9.3% market share in 2018. In addition, it is the largest supplier of Infonavit loans for new housing in the state of Aguascalientes, Nuevo Leon, State of Mexico and Queretaro with 26.0%, 23.7%, 21.1% and 13.3% market share, respectively; the second largest supplier of Infonavit loans for new housing in Jalisco and Quintana Roo with 13.4%, and 12.6% market share, respectively. During 2018, the Company reported revenues of Ps. 8,321 million and sold a total of 18,962 units. For more information, please visit: www.javer.com.mx
Investor Relations Contact:
Veronica Lozano, Investor Relations Officer
Tel. +52 (81) 1133-6699 Ext. 6515
vlozano@javer.com.mx
SOURCE: SERVICIOS CORPORATIVOS JAVER, S.A.B. DE C.V.
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