Corporacion Durango talks $520 million 10-year notes at 10½% area

By Aaron Hochman-Zimmerman and Paul A. Harris

New York, Sept. 26 - Corporacion Durango SAB de CV set initial price guidance for its $520 million offering of 10-year senior unsecured notes (B+/B+) at the 10½% area, according to a market source.

Pricing is expected this week.

Merrill Lynch will act as the bookrunner for the Rule 144A and Regulation S deal.

The notes come with five years of call protection.

Proceeds from the sale will be used to refinance existing debt and for general corporate purposes.

On July 25 Durango pulled a similar two-tranche offering.

Corporacion Durango is a Durango, Mexico-based bag and box manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.