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Mexico's Soriana places $531 mln in local debt

Fri Jun 13, 2008 8:58pm EDT

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MEXICO CITY, June 13 (Reuters) - Soriana, Mexico's second-biggest retailer, said on Friday it placed 5.5 billion pesos ($531 million) in short and long-term local debt.

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Soriana (SORIANAB.MX) said in a statement the debt had a maturity of 4-1/2 years and was part of an overall debt program totaling 15 billion pesos ($1.45 billion) that expires in December 2012.

Soriana recently finished integrating close to 200 stores it bought from rival retailer Gigante <GIGANTE.MX. ($1 = 10.364 pesos) (Reporting by Mica Rosenberg; editing by Carol Bishopric)

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