KCSM Raises Tender Funds

KCSM Raises Tender Funds

Mexico Bonds

Kansas City Southern de Mexico has sold $185m in new 2020 bonds, to fund a buyback of more expensive 2013 and 2016 bonds. The Mexican unit of the US railroad operator priced at par with a 6.625% coupon, to yield UST plus 323bp, and at the tight end of 6.625%-6.750% price talk given at announcement Tuesday morning. B1/BB KCSM will use proceeds fund the buyback, done through an offer to bondholders closing Friday. Holders of $142m in principal of the $175m outstanding in 7.625% 2013s and of $32m o

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial