By Paul A. Harris
St. Louis, Mo., June 6 - Transportacion Ferroviaria Mexicana SA de CV upsized to $180 million from $170 million its offering of senior notes due June 15, 2012 (B1/BB-) and priced them at 98.606 to yield 12¾%, according to a syndicate source.
Price talk was 12¾%-13%.
Salomon Smith Barney was the bookrunner. JP Morgan was co-manager.
Proceeds from the Rule 144A deal will be used to finance the acquisition of the Mexican government's 24.6% equity interest in the company.
The Mexico City-based issuer is a railroad operator in Mexico owned jointly by TMM and KC Southern.
Issuer: Transportacion Ferroviaria Mexicana SA de CV
Amount: $180 million (increased from $170 million)
Maturity: June 15, 2012
Type: Senior notes
Bookrunner: Salomon Smith Barney
Co-manager: JP Morgan
Coupon: 12½%
Price: 98.606
Yield: 12¾%
Price talk: 12¾%-13%
Spread: 770 basis points
| Call features: | Callable on June 15, 2007 at 106.250, 104.167, 102.083, par on June 15, 2010 and thereafter
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| Equity clawback: | None
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| Settlement date: | June 13, 2002 (T+5)
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| Ratings: | | Moody's: B1
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| Standard & Poor's: BB-
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| Rule 144A CUSIP: | 872402AE2
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