August 10, 2011
Mexicos Grupo Senda Autotransporte has clinched a majority acceptance
Mexico’s Grupo Senda Autotransporte has clinched a majority acceptance in its consent solicitation to amend terms on its 10.5% 2015 bonds. With the approval, Senda can loosen a few of the restrictions that limit its ability to take on additional debt. It offered holders $1.25 for each $1,000 principal amount ahead of the expiration date on August 5. JPMorgan managed the transaction. The bus company initially sold the bonds in a $150m sale in 2007 through Credit Suisse.