Mexico's Mexichem launches tender offer for 2019 notes

MEXICO CITY, Sept 7 Fri Sep 7, 2012 11:33am EDT

MEXICO CITY, Sept 7 (Reuters) - Mexican industrial conglomerate Mexichem said on Friday it has launched an offer to buy back $350 million worth of senior notes due 2019, part of a recently announced plan to help the company continue with its expansion drive.

Mexichem's tender, which offers $1,245 for every $1,000 principal amount of notes, will expire Sept. 13 but could be extended, the company said in a press release.

Last month, Mexichem said it planned to raise about $2 billion to refinance existing debt and other working capital needs.

Mexichem shares inched up 0.16 percent to 61.10 pesos Friday morning.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.