Grupo Kaltex, S.A. de C.V. Issues Inaugural $320 Million Senior Notes Offering
New York – Paul Hastings LLP, a leading global law firm, represented Grupo Kaltex, S.A. de C.V., one of the largest textile companies in the world, in its inaugural international bond offering. The offering involved the issuance of $320 million of 8.875% Senior Notes due 2022 pursuant to Rule 144A and Regulation S. The underwriters involved were Barclays, Morgan Stanley and Nomura Securities. Pursuant to a covenant in the indenture for the notes, in order to avoid periodic increases in the interest rate applicable to the notes, the notes may be secured by liens on certain of Kaltex’s properties in Mexico.
Latin America practice partners
Paul Hastings attorneys also recently advised on the US$912 million international IPO of Jose Cuervo, represented Sigma Alimentos, S.A. de C.V., on a €600 debt issuance and Mexican automotive part manufacturer Nemak in a €500 million debt issuance, and advised on two notable out-of-court debt restructuring deals for Arendal, S.A. and Industrias Unidas, S.A.. The practice was also recognized by LatinFinance for
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