December 21, 2017 |
Carlos Slim's Inbursa has completed a convertible preferred share offering of stock in the New York Times, which bankers have dubbed a mandatory exchangeable trust.
Mexican financial institution, Inbursa, paid Slim $250m for 2.5m shares in the US paper for $100 apiece, a source familiar with the transaction said.
To facilitate the Rule 144A deal, Inbursa created an SEC-registered trust. Barclays and Bank of America Merrill Lynch coordinated the exchange.
Inbursa's trust bought the securites t
Mexican businessman's local FI buys $250m worth of securities that he holds in the US newspaper