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Grupo Posadas $150 million seven-year notes talked at 8¾% to 9%
By Paul A. Harris
St. Louis, Sept. 24 - Grupo Posadas SA de CV's $150 million offering of seven-year notes (Ba3/BB-) were talked at 8¾% to 9%, according to a market source.
The deal is expected to price early next week.
Citigroup is the bookrunner for the Rule 144A/Regulation S offering.
The notes will come with four years of call protection.
Proceeds will be used to repay the company's existing debt.
Mexico City-based Grupo Posadas is the largest hotel operator in Mexico and Latin America.
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