Grupo Elektra unit talks seven-year secured notes at low 5% area

By Rebecca Melvin

New York, Jan. 12 – Mexico’s Nueva Elektra del Milenio SA de CV, a subsidiary of Grupo Elektra SAB de CV, talked a benchmark-sized offering of dollar-denominated seven-year senior secured notes (expected rating: //BBB-) to yield in the low 5% area, according to a market source.

The notes have a 4.5-year weighted average life, and Grupo Electra will guarantee any default payment and additional amounts.

BCP Securities LLC, Credit Suisse Securities (USA) LLC and Jefferies LLC are the global coordinators and bookrunners of the Rule 144A and Regulation S notes, which were expected to price on Tuesday.

The online shopping portal is based in Mexico City.

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