Mexico City, December 14th, 2021 – Alsea, S.A.B. de C.V. (BMV: ALSEA*) “Alsea”, the leading operator of quick service restaurants, coffee shops, casual and family dining establishments in Latin America and Europe, announces that on Monday, December 13th, the settlement and closing of its US$500 million (five hundred million US dollars) Senior Notes due 2026, at an 7.750% coupon per annum payable on a semi-annual basis (the “Senior Notes 2026”).
The Senior Notes 2026 have a 2-year call date (December 14, 2023). The Senior Notes 2026 issuance was performed pursuant to Rule 144A and Regulation S of the U.S. Securities Act. The net proceeds of the transaction were used to consummate a debt refinancing transaction that consists on the repayment of certain indebtedness of the issuer and its subsidiaries, and to pay fees and expenses incurred in connection with the offering of the notes and the debt refinancing transaction. As a result of the application of proceeds, certain debt facilities were amended to allow Alsea to capitalize on its upward recovery trend.
This transaction will allow Alsea to improve its maturity profile, rebalance its debt portfolio, as well as broaden its current investor base. The Senior Notes 2026 have been rated “B1” and “BB-” on global scale by Moody’s Investor Services, Inc. and Fitch Ratings, respectively, and are secured by various subsidiaries of Alsea. Through this placement Alsea has demonstrated its capacity to tap into the
international capital markets and the confidence of its lenders.
BBVA, BofA Securities (B&D), Santander, and Scotiabank acted as active joint book-runners, and BCP Securities, MUFG, Rabobank, and SMBC acted as passive joint -bookrunners. DLA Piper acted as counsel for Alsea in Mexico. Garrigues acted as counsel for Alsea in Spain. Skadden, Arps, Slate, Meagher & Flom acted as counsel for the bookrunners and lenders in New York.
Miranda Newswire – Full Press Release: Download PDF
Investor Relations Contact Details
+52 (55) 7583-2000