Published on 9/10/2010 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Mexico's Grupo Kuo prices $50 million add-on to 9¾% bonds due 2017 at 106.5
By Christine Van Dusen
Atlanta, Sept. 10 - Mexico's Grupo Kuo SAB de CV priced a $50 million add-on to its existing $200 million 9¾% bonds (/BB-/BB-) due October 2017 at 106.5, a market source said Friday.
Proceeds from the Rule 144A and Regulation S transaction will be used to pay a syndicated loan, according to a company announcement.
Grupo Kuo is an industrial conglomerate based in Mexico City.
| Issuer: | Grupo Kuo SAB de CV
|
| Amount: | $50 million
|
| Maturity: | October 2017
|
| Description: | Add-on to 9¾% notes
|
| Coupon: | 9¾%
|
| Price: | 106.5
|
| Trade date: | Sept. 10
|
| Ratings: | Standard & Poor's: BB-
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Total amount: | $250 million, including $200 million priced Oct. 10, 2007
|
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