Simpson Thacher Represents Initial Purchasers in Debt Offering for Alestra, S. de R.L. de C.V. of Mexico
09.10.09
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The Firm represented Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated, as initial purchasers, in connection with a high-yield debt offering of $200 million of 11.75% Senior Notes due 2014 by Alestra, S. de R.L. de C.V., a Mexican company. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933.
Alestra will use the net proceeds from the offering to repay its outstanding 8% Senior Notes due 2010.
The Firm also represented the two investment banking firms as dealer managers in a concurrent tender offer to repurchase Alestra’s outstanding 8% Senior Notes due 2010. The notes not tendered in the tender offer have been called for redemption.
Alestra is a leading provider of telecommunication services in Mexico. Alestra is 51% owned by Alfa, S.A.B. de C.V., a major Mexican conglomerate, and 49% by AT&T Inc.
The Simpson Thacher team for the debt offering included, among others, Glenn M. Reiter, Juan Francisco Mendez, Kirsten L. Davis and Sergio Amiel (Capital Markets) and Jonathan Cantor (Tax).