Kuo increases size of rare bond for debt-neutral trade

Melton Mowbray Pork Pie
By Oliver West
29 Jun 2017

Mexican conglomerate Grupo Kuo sold $450m of 10 year non-call five notes on Thursday in its first international bond sale in five years, as bankers praised the issuer for its timing.

As it wrapped up a roadshow on Wednesday, BB/BB rated Kuo announced initial price thoughts of high 5% for a new bond to be used to finance a tender offer for its senior unsecured 2022s, of which $325m is outstanding.

Leads Bank of America Merrill Lynch and Credit Suisse ...

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