Mexico's Grupo Gigante to sell $250 million 10-year bonds

By Reshmi Basu

New York, March 21 - Grupo Gigante SA de CV plans to issue $250 million in 10-year senior unsecured bonds (/BB/BB), according to a market source.

The issue will be non-callable for five years.

Additionally, there will be an investor put at 101 in the event of a change in control of the company. The issue will also include a high-yield covenant package.

ABN Amro is the bookrunner for the Rule 144A and Regulation S transaction.

A roadshow is expected to start this week and run into next week.

Grupo Gigante is a Mexico City-based retailer.

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