By Rebecca Melvin
New York, June 29 – Mexico’s Grupo KUO SAB de CV priced an upsized $450 million of 10-year notes (/BB/BB) at par to yield 5¾%, a market source said Thursday.
The notes were talked at a yield in the high 5% area.
Proceeds of the notes (/BB/BB) will be used to refinance the issuer’s $325 million of senior notes due 2022, Fitch Ratings said. The early tender deadline was June 28.
The new notes are non-callable for five years until 2022.
Bank of America Merrill Lynch and Credit Suisse were bookrunners for the Rule 144A and Regulation S deal.
Grupo KUO is a Mexico City-based chemical, automotive and food conglomerate.
| Issuer: | Grupo KUO SAB de CV
|
| Amount: | $450 million, upsized from $350 million
|
| Maturity: | July 7, 2027
|
| Description: | Notes
|
| Bookrunners: | Bank of America Merrill Lynch and Credit Suisse
|
| Coupon: | 5¾%
|
| Price: | Par
|
| Yield: | 5¾%
|
| Calls: | Non-callable for five years, then callable in 2022 at 102.875, in 2023 at 101.917, in 2024 at 100.958, and in 2025 at par
|
| Trade date: | June 29
|
| Settlement: | July 7
|
| Ratings: | Standard & Poor’s: BB
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | High 5% area
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
