Slim's Inbursa finishes NY Times exchange

Slim's Inbursa finishes NY Times exchange

Capital Markets Equity Mexico US

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

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