Mexican glass group Vitro has made a public offering of medium-term promissory notes worth about 515 million pesos with a term of issue of 1,092 days and an interest rate of 13%. The offer, open from …
Mexican glass group Vitro has made a public offering of medium-term promissory notes worth about 515 million pesos with a term of issue of 1,092 days and an interest rate of 13%. The offer, open from 9-10 December, was issued in UDIs, an inflation-indexed unit of investment, and aims at reducing the cost of the group“s debt. “The most immediate benefit of the offer is liquidity for the holding company, as there are only 13 payments to be made every 84 days. Previously, payments were made every 14 or 28 days,” stated Vitro“s financing manager Patricio Coindreau.