Mexico City, December 7th, 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 6th, the pricing of US$500 million (five hundred million US dollars) Senior Notes due 2026 took place, 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 is being performed pursuant to Rule 144A and Regulation S of the U.S. Securities Act.
Alsea intends to allocate the net proceeds of the transaction 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. Upon settlement of the issuance and consummation of the debt refinancing transaction, 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.
Furthermore, through this placement, in which 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, Alsea has demonstrated its capacity to tap into the international capital markets. DLA Piper, Skadden and Garrigues acted as counsel for Alsea.
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