Vitro announced 19 July 2004 that its subsidiary Vitro Envases Norteamerica S.A. de C.V. (VENA), Vitro“s glass containers division, has agreed to sell USD 170 million aggregate principal amount of 10…
Vitro announced 19 July 2004 that its subsidiary Vitro Envases Norteamerica S.A. de C.V. (VENA), Vitro“s glass containers division, has agreed to sell USD 170 million aggregate principal amount of 10.75% senior secured guaranteed notes due 2011. The closing of this sale is expected to occur on 23 July 2004. VENA intends to use the proceeds of the issue to repay existing indebtedness. The notes will be issued by VENA and guaranteed by VENA“s principal Mexican subsidiaries and Vitro Packaging, VENA“s trading company in the United States. The notes will be secured by first priority liens on most of VENA“s and its subsidiaries“ assets. The notes have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.