Business
Cox's Mexico Unit Issues Bonds For USD 2.0 Bln To Finance Acquisition of Iberdrola Mexico
Cox's Mexico Unit Issues Bonds For USD 2.0 Bln To Finance Acquisition of Iberdrola Mexico
About this update from Cox Abg Group Sa
Cox Abg Group SA BME:COXG:USD 2 BLN BOND ISSUANCEFIRST TRANCHE OF USD 1.0 BILLION, WITH 5-YEAR MATURITY AND COUPON OF 7.125%SECOND TRANCHE IN THE AMOUNT OF U.S.$1.0 BILLION, WITH A 10-YEAR MATURITY AND A COUPON OF 7.75%ISSUANCE WAS APPROXIMATELY 5 TIMES OVERSUBSCRIBED RELATIVE TO THE INITIAL OFFERING SIZEPROCEEDS WILL BE USED TO REFINANCE THE USD 2.65 BILLION BRIDGE LOANISSUE BY COX ASSET MEXICO, S.A. DE C.V., MEXICAN SUBSIDIARY OF COX ABG GROUPBRIDGE LOAN IN CONNECTION WITH ACQUISITION OF ENTIRE SHARE CAPITAL OF IBERDROLA MÉXICO, S.A. DE C.VREMAINING AMOUNT REQUIRED TO COMPLETE REFINANCING OF THE BRIDGE LOAN WILL BE COVERED THROUGH A TERM LOAN