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TFM tenders for 11¾% notes
New York, April 1 - Kansas City Southern said its majority owned subsidiary TFM, SA de CV has started a cash tender offer for any and all of its $443.5 million principal amount of 11¾% senior discount debentures due 2009.
TFM is also soliciting consents to amend the indenture.
The offer runs through midnight ET on April 28. The consent solicitation ends at 5 p.m. ET on April 14.
Holders who tender by the consent deadline will receive $1,002.50 per $1,000 principal amount, including a $40.00 consent payment. Those who tender after the consent deadline will receive $962.50 per $1,000 principal amount.
TFM will also pay accrued interest up to but excluding the settlement date.
Holders who tender will be required to deliver consents and vice versa.
The amendments to the indenture will reduce the notice period for a call to three days from 30 days. TFM said it expects to call any notes not tendered at par plus accrued interest.
Kansas City Southern is a Kansas City, Mo.-based railroad.
Morgan Stanley & Co. Inc. (800 624-1808 or call collect 212 761-1457, attention: Riccardo Cumerlato) is the dealer manager and D.F. King & Co, Inc. is the information agent (800 488-8075, banks and brokerages call 212 269-5550).
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