Grupo Elektra announces prepayment of US $ 275 debt

0


—Also cancels $ 45 million in bonds that the company bought before—

—Payment reflects strong financial results and further strengthens the company’s capital structure

MEXICO CITY, December 1, 2016 (GLOBE NEWSWIRE) – Grupo Elektra, SAB de CV (BMV: ELEKTRA *; Latibex: XEKT), Latin America’s leading specialty retailer and financial services company, and the largest non-bank provider of cash advance services in the United States, today announced that it will prepay, December 30, 275 million US $ of its senior notes of US $ 550 million, with a coupon of 7.25% and due in 2018. The amount will be paid to bondholders, pro rata to their holdings, at a price of purchase of 101.825%.

Prior to the prepayment, the company will also cancel US $ 45 million of bonds of the same senior notes that have already been redeemed.

To make the prepayment, the company issued Certificados Bursátiles Fiduciarios for 3,500 million pesos last October, through its subsidiary Dinero Express, and will use the cash generated by Grupo Elektra, as part of strong financial and operational performance. dynamic.

The payment reflects the firm’s strategy of substituting dollar-denominated liabilities for local currency debt and further strengthens its capital structure.

Company Profile:

Grupo Elektra is Latin America’s leading financial services company and specialty retailer and the largest non-bank provider of cash advance services in the United States. The Group operates more than 7,000 contact points in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador.

Grupo Elektra is a company of Grupo Salinas (www.gruposalinas.com), a group of dynamic, fast-growing and technologically advanced companies focused on creating value for shareholders, helping to build the middle class of the countries in which they operate and improve society par excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas functions as a management development and decision-making forum for key executives of member companies. Companies include TV Azteca (www.tvazteca.com; www.irtvazteca.com), Azteca US (us.azteca.com), Grupo Elektra (www.elektra.com.mx: www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Totalplay (www.totalplay .com.mx) and Enlace TP (enlacetp.mx). Each of the companies of Grupo Salinas operates independently, with its own management, board of directors and shareholders. Grupo Salinas does not own any participation. However, member companies share a common vision, values ​​and strategies to achieve rapid growth, superior results and world class performance.

Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected. Other risks that may affect Grupo Elektra and its subsidiaries are identified in the documents sent to the securities authorities.


        



Source link

Leave A Reply

Your email address will not be published.