Mexico's GEO tenders, seeks consents for 8 7/8% senior notes due 2014

By Susanna Moon

Chicago, March 9 - Corporacion GEO SAB de CV said it began a tender offer and a consent solicitation for its outstanding 8 7/8% senior notes due 2014.

The total purchase price will be $1,085, including a $30 premium, for each $1,000 principal amount of notes tendered by the early tender deadline at 5 p.m. ET on March 19.

The tender offer will end at 11:59 p.m. ET on April 4.

Holders who tender their notes after the early deadline will be ineligible to receive the early fee.

The company is soliciting consents to amend the notes to eliminate substantially all of the company's restrictive covenants.

The tender offer and consent solicitation is conditioned on completing new debt offerings with enough proceeds to fund the offers.

The company expects to settle early tendered notes before the final settlement date, which is slated for April 6, according to a company press release.

Citigroup Global Markets Inc. (800 558-3745), J.P. Morgan Securities LLC (866 846-2874) and Santander Investment Securities Inc. (212 407-0995) are the lead dealer managers. Global Bondholder Services Corp. (866 470-4500) is the information agent.

GEO is a Mexico City-based provider of homebuilding services.

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