KCSM Raises LM Funds
Kansas City Southern de Mexico (KCSM) has issued $725m in new 7-year and 10-year bonds to fund a debt repurchase, getting $4.7bn in demand for the pair. The Baa3/BBB minus/BBB minus issuer’s $450m 2023 priced at 99.587 with a 3.00% coupon to yield 3.048%, or UST+135bp, at the tight end of UST+145bp guidance and earlier...
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