Grupo Famsa, S.A.B. De C.V. Issues 9.75% Senior Secured Notes Due 2024
April 22, 2020 at 12:19 pm
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Grupo Famsa, S.A.B. de C.V. announced the following, in connection with its offer to exchange (the Exchange Offer) newly issued 9.75% Senior Secured Notes due 2024 (the New Notes) for any and all of its outstanding 7.250% Senior Notes due 2020 (ISINs: US40052WAC64 (Rule 144A) /USP7700WCG35 (Regulation S)) (the Existing Notes), and the related solicitation of consents (the "Consent Solicitation") of the holders of Existing Notes to certain proposed amendments to the indenture governing the Existing Notes. The Exchange Offer and Consent Solicitation were conducted upon the terms and subject to the conditions set forth in the offering memorandum dated October 28, 2019 (as it may be amended or supplemented from time to time, the Offering Memorandum).
Grupo Famsa SAB de CV is a Mexico-based holding company primarily engaged in retail sector. The Company owns and operates a network of Famsa Mexico department stores located in Mexican cities, as well as Famsa USA stores established in the United States. Via its retail network, the Company is active in the import, distribution and sale of household appliances, furniture and consumer electronics, among others. Through Banco Ahorro Famsa SA Institucion de Banca Multiple, the Company is also involved in the provision of a variety of banking and sales financing services to its retail customers.