Milbank Represents Initial Purchasers In $320 Million Inaugural High Yield Offering By Grupo Kaltex S.A. de C.V.

NEW YORK CITY— April 14, 2017 — Milbank, Tweed, Hadley & McCloy LLP advised the initial purchasers in the inaugural $320 million high yield offering of 8.875 percent Senior Notes due 2022 by Mexico-based Grupo Kaltex S.A. de C.V., a vertically-integrated textile company and one of the largest textile companies in the world.

This transaction represents the debut Rule 144A and Regulation S bond issuance by Grupo Kaltex S.A. de C.V., and the first high-yield dollar-denominated Mexican corporate issuance since the US presidential election.

The Milbank team was led by Capital Markets partner Carlos Albarracín along with associates Andres Osornio, Alex Gefter, and Gonzalo Guitart, and included partner Andrew Walker and associate Jules Mugema from Milbank’s Tax Group.

Albarracín said: “We are pleased to be participate with Mexico-based issuers on their high-yield offering.  The Kaltex bond offering is the first dollar-denominated corporate issuance after the US elections and one of few high-yield offerings by Mexican issuers completed over the past three years. We hope this paves the way for more similar high-yield offerings from Mexico to follow.”

Milbank has one of the longest tenures of any U.S. law firm doing business in Mexico since the 1920s and the firm consistently represents clients in market-leading transactions.

Posted April 14, 2017

Source: Milbank, Tweed, Hadley & McCloy LLP