Vitro, S.A.B. de C.V. announced a USD 750 million debt offering to refinance existing third-party debt at the Vitro holding company level and substantially all of the third-party debt at its subsidiar…
Vitro, S.A.B. de C.V. announced a USD 750 million debt offering to refinance existing third-party debt at the Vitro holding company level and substantially all of the third-party debt at its subsidiary Vitro Envases Norteamrica, S.A. de C.V.(VENA). The offering will consist of bank and/or bond financing in at least two tranches and will be guaranteed by VENA and its wholly-owned subsidiaries, and Vimxico, S.A. de C.V. and its wholly-owned subsidiaries. The offering will be made to qualified institutional buyers in the United States in line with Rule 144A of the Securities Act of 1933 and to non-US persons outside the United States in accordance with Regulation S of the same act. The offering, to the extent it is in the form of notes, will be issued with registration rights. Concurrently with the offering, VENA also announced on 10 January 2007 a cash offer for any and all of its outstanding 10.75% senior secured guaranteed notes due 2011. In conjunction with the tender offer, VENA is also asking noteholders for consents to amend the indenture covering the 2011 Notes. Among the proposed changes is the release of certain liens on the collateral for the 2011 Notes.