Mexico City, January 21, 2022 — Alsea, S.A.B. de C.V. (BMV: ALSEA*) “Alsea”, the leading operator of quick service restaurants, coffee shops, casual and family dining establishments in Latin America and Europe, announces that on Friday, January 21st, the settlement and closing of its €300 million (three hundred million Euros) Senior Notes due 2027, at a 5.500%% coupon per annum issued by its subsidiary Food Service Project, S.A. and guaranteed by Alsea (the “Euro Notes 2027”). The Euro Notes 2027 have a 2-year call date (January 21, 2024).
The Euro Notes 2027 issuance was performed pursuant to Rule 144A and Regulation S of the U.S. Securities Act. The net proceeds of the transaction were used to consummate a debt refinancing transaction that consists on the repayment of certain indebtedness of the issuer and its subsidiaries, and to pay fees and expenses incurred in connection with the offering of the notes and the debt refinancing transaction.
This transaction will allow Alsea to improve its maturity profile, rebalance its debt portfolio, as well as broaden its current investor base. The Euro Notes 2027 have been rated “B1” and “BB-” on global scale by Moody’s Investor Services, Inc. and Fitch Ratings, respectively, and are secured by various subsidiaries of Alsea.
Furthermore, the pricing attests to the confidence that investors have in Alsea as it was oversubscribed 2.7 times. Through this placement Alsea has demonstrated its capacity to tap into the international capital markets and the confidence of its lenders.
In this placement BofA Securities, ING (B&D), Santander and Societe Generale acted as Global Coordinators & Joint Active Bookrunners, and CaixaBank, Rabobank, Sabadell, Scotiabank acted as passive joint-bookrunners DLA Piper advised Alsea in Mexico and New York. Garrigues advised Alsea in Spain. Skadden advised the banks in New York. Uria Menéndez advised the banks in Spain.
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Investor Relations Contact Details
Salvador Villaseñor
ri@alsea.com.mx
+52 (55) 7583-2000