Mexico's Grupo TFM to start roadshow this week for $460 million seven-, 10-year notes

By Paul A. Harris

St. Louis, April 5 - Mexican freight railroad company Grupo Transportación Ferroviaria Mexicana SA de CV (Grupo TFM) plans to sell $460 million of senior unsecured notes in two tranches (expected ratings B2/B), according to an informed source.

A U.S. roadshow will take place during the present week and continue into the early part of the April 11 week. Pricing is expected to take place mid-to-late in the April 11 week.

The company is offering seven-year notes non-callable for four years and 10-year notes non-callable for five years.

Morgan Stanley has the books for the Rule 144A with registration rights notes. Scotia Capital is the co-manager.

Proceeds will be used to refinance the company's 11¾% senior discount debentures due in 2009.

Grupo TFM has headquarters in Colonia Parques del Pedregal, México.

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