Alsea serves up bond program

Alsea serves up bond program

Bonds Debt Corporate & Sovereign Strategy Capital Markets Mexico

Mexico's Alsea said it has has drafted a MXN10bn ($531m) bond program, with the first issue for up to MXN5bn scheduled for May 16. The restaurant operator will sell five- or seven-year notes with both fixed and variable interest rates to pay off short-term debt and make interest payments, according to securities filings. Alsea ended 2018 with MXN23.6bn in net debt, up from MXN13.2bn at the end of 2017. The company more than doubled its bank debt to MXN25.6bn by the end of last year as it took

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