TLALNEPANTLA, Mexico--(BUSINESS WIRE)--Mexichem, S.A.B. de C.V. (BMV:MEXCHEM*) ( the Company or Mexichem ) announces that on Tuesday September 9, 2014 it placed a 144A / Reg S US$750 million 30 year bond.
The offering priced today at a spread of 270 basis points over 30-year US Treasury Bills, reflecting the market s confidence in the Company s strategy, future prospects and disciplined financial management. The offering, which is payable at maturity, was several times oversubscribed, with more than 150 participating investors. The issuance was rated Baa3 by Moody s, BBB- by Standard & Poor s and BBB by Fitch.
The proceeds of the deal will be used for purposes including refinancing of short term debt, the funding of recent acquisitions and general corporate purposes.
Mexichem is a global specialty chemicals company, producing the raw materials for key products used in infrastructure, housing, drinking water and other vital industries. Our customers are spread across more than 50 countries and they rely on our efficient, market-leading production to meet their needs. Currently, the group focuses on the three key production chains: Chlorine-Vinyl, Fluorine and Integral Solutions. The Company has annual turnover of more than US$5 billion and has been listed on the Mexican Stock Exchange for more than 30 years.
In addition to historical information, this press release contains "forward-looking" statements that reflect management's expectations for the future. A variety of important factors could cause results to differ materially from such statements. These factors are noted throughout Mexichem s regulatory filings. The forward-looking statements included herein represent Mexichem s views as of the date of this press release. Mexichem undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.
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