Mexico's Grupo Kuo talks $200 million 10-year notes at 10%

By Aaron Hochman-Zimmerman

New York, Oct. 9 - Grupo KUO SAB de CV released talked for its planned $200 million offering of 10-year senior unsecured bonds (BB-/BB-) at 10%, according to a market source.

Credit Suisse and Citigroup will act as joint bookrunners for the Rule 144A and Regulation S deal.

The bonds are callable after five years at a premium, which steps down to par over three further years. During the first five years the bonds have a make-whole call at Treasuries plus 50 basis points.

There is a change-of-control put at 101.

A roadshow for the deal ended Oct. 8.

Grupo Kuo is a Bosques de las Lomas, Mexico-based holding company engaged in the manufacturing of auto parts, chemicals and food products.

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