Chicago, Feb. 4 – Mexico’s Nueva Elektra del Milenio SA de CV, a subsidiary of Grupo Elektra SAB de CV sold $500 million seven-year notes with a 4 7/8% coupon (//BBB-/HR: BBB+), according to a company notice.
The notes were talked in the low 5% area, according to a market source.
It was the first investment-grade issue for the company.
The notes have a 4.5-year weighted average life, and Grupo Electra will guarantee any default payment and additional amounts.
BCP Securities LLC, Credit Suisse Securities (USA) LLC and Jefferies LLC were the global coordinators and bookrunners of the Rule 144A and Regulation S notes.
The online shopping portal is based in Mexico City.
| Issuer: | Nueva Elektra del Milenio SA de CV
|
| Guarantor: | Grupo Elektra SAB de CV
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| Securities: | Senior notes
|
| Amount: | $500 million
|
| Tenor: | Seven years
|
| Bookrunners: | BCP Securities LLC, Credit Suisse Securities (USA) LLC and Jefferies LLC
|
| Coupon: | 4 7/8%
|
| Ratings: | Fitch: BBB-
|
| HR Ratings: BBB+
|
| Pricing date: | Jan. 12
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5% area
|
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