New York, NY – Paul Hastings LLP, a leading global law firm, represented Grupo Famsa, S.A.B. de C.V., a leading company in the Mexican retail and finance sectors, in connection with its international issuance of high-yield debt securities. The offering was underwritten by Credit Suisse and Citigroup and involved the issuance of $250 million of 7.250% Senior Notes due 2020 pursuant to Rule 144A and Regulation S. This transaction marks the first international notes offering by Grupo Famsa since 2010.
Concurrently with the notes offering, Paul Hastings also represented Grupo Famsa in connection with its successful cash tender offer for $200 million of its 11.00% Senior Notes due 2015 (the “2015 notes”) issued in 2010, and the related consent solicitation to amend the provisions of the 2015 notes. The dealer-manager of the tender offer was Credit Suisse.
Grupo Famsa intends to use the proceeds from the sale of the new notes to fund the tender offer and consent solicitation (including the payment of any accrued and unpaid interest), to redeem any 2015 notes that remain outstanding after the consummation of the tender offer and consent solicitation and, to the extent any proceeds remain, for general corporate purposes.
Latin America practice partners Mike Fitzgerald and Joy Gallup led the Paul Hastings team, which also included of counsel Steven Sandretto and associates Arnaldo Rego Jr., Farah Tariq and foreign associate Pablo Garza.
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