Vitro deposits funds for payment of Yankee Bond

Vitro, S.A. de C.V. announced at the beginning of May that it had deposited the funds necessary for the payment in full of the principal amount on the Vicap, S.A. de C.V. Guaranteed Senior Notes of it…

Vitro, S.A. de C.V. announced at the beginning of May that it had deposited the funds necessary for the payment in full of the principal amount on the Vicap, S.A. de C.V. Guaranteed Senior Notes of its Yankee Bond issue due on 15 May 2002 for US$ 175 million. Funds for this payment consisted of cash generated from operations, asset sales from the ongoing divestiture program and new credit facilities mainly from Banco Inbursa, S.A. and Credit Suisse First Boston. Vitro, S.A. de C.V., through its subsidiary companies, is a major participant in four distinct businesses: flat glass, glass containers, glassware and household products. Vitro“s subsidiaries serve multiple product markets, including construction and automotive glass, wine, liquor, cosmetics, pharmaceutical, food and beverage glass containers, fibreglass, plastic and aluminium containers, glassware for commercial, industrial and consumer uses, and household appliances. Founded in 1909, Monterrey, Mexico-based Vitro has joint ventures with nine major world-class manufacturers that provide its subsidiaries with access to international markets, distribution channels and state-of-the-art technology.