Transportacion Ferroviaria Mexicana starts roadshow Wednesday for $170 million 10-year notes

By Paul A. Harris

St. Louis, Mo., May 28 - Transportacion Ferroviaria Mexicana SA de CV starts a roadshow Wednesday for $170 million of senior notes due 2012 (B1/BB-), according to a syndicate source.

Pricing is expected to take place June 6.

Salomon Smith Barney is the bookrunner for the Rule 144A issue.

The notes are non-callable for five years.

Proceeds will be used to finance the acquisition of the Mexican government's 24.6% equity interest in the company.

If the company is not able to raise at least $150 million via this offering of 10-year senior notes the previously obtained consents will be revoked, according to the source.

The Mexican railroad operator is headquartered in Mexico City, and is owned jointly by TMM and KC Southern.

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