March 30, 2011
Mexico’s Javer has set a coupon of 9.875% on a new 2021 bond it is issuing
Mexico’s Javer has set a coupon of 9.875% on a new 2021 bond it is issuing as part of an exchange offer for 2014 bonds. The Mexican homebuilder launched last week an offer to swap any and all of a 13% of 2014 bond for the new 2021, at a price of 118 prior to March 31, or 115 after. It was trading around 120 Tuesday. The offer is open for all of the outstanding $210m in the 2014s, plus up to an additional $30m in new money. BAML and Credit Suisse are managing the deal, which expires April 14.