View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
April 4, 2003

MEXICO: Femsa to issue $937m in local debt

In an effort to finance its anticipated purchase of the soft drinks group Panamerican Beverages, the Mexican beverage group Coca-Cola Femsa has filed to issue up to 10 billion pesos (US$937m) in local debt.

In an effort to finance its anticipated purchase of the soft drinks group Panamerican Beverages, the Mexican beverage group Coca-Cola Femsa has filed to issue up to 10 billion pesos (US$937m) in local debt.


The debt will make up a large part of the US$2.7 billion Femsa will pay to complete the deal, which will create the world’s number two Coca-Cola bottler.


The new local debt will be in the form of a program of “certificados bursatiles”, an instrument created in 2001 allowing Mexican companies to issue peso-denominated paper that can be traded on the local securities exchange.


No time frame has been put on the issue yet, but it is largely expected that it will occur in the second quarter, according to the timing of the Panamco deal.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Drinks