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Posadas Raises $225m for LM

Nov 27, 2012

Grupo Posadas has priced a $225m 5NC3 bond, upsizing from $210m and raising funds for a cash tender targeting its $200m outstanding 9.250% 2015 bonds. The B2/B/B+ Mexican hotel operator priced the senior unsecured 2017 at 99.493 with a 7.875% coupon to yield 8.000%. This...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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