World News: 20:51 GMT Monday 11th February 2019. [Grupo Elektra SAB de CV via Globe Newswire via SPi World News]
MEXICO CITY, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Latin America’s leading specialty retailer and financial services company and the largest non-bank provider of cash advance services in the United States, announced today it successfully issued Ps.5 billion of (), due in 2022 with a coupon of TIIE28 + 240 bps. The funds obtained will be used to replace liabilities.
The issue, which has AA + by HR Ratings and AA / M by Verum credit ratings, was done through the and had a demand, in domestic and global markets, of 1.61 times the amount placed.
"The remarkable demand for the securities issued represents a vote of confidence from financial markets about the solid financial performance of Grupo Elektra, and the positive outlook for the Mexican economy," commented Esteban Galindez, CFO of Grupo Salinas.
"The issuance will significantly improve the debt maturity profile and reduce interest expenses, which further strengthen the company's financial situation," added Mr. Galíndez.
Grupo Elektra plans to further boost its solid market positioning, through the creation of economic, social, and environmental value, and will continue with its strong expansion process to promote increased wellbeing and progress for a growing number of families in the communities where it operates.
Grupo Elektra is Latin America’s leading financial services company and specialty retailer and the largest non-bank provider of cash advance services in the United States. The group operates more than 7,000 points of contact in Mexico, the United States, Guatemala, Honduras, Peru, Panama and El Salvador.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community wellbeing; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. These companies include: TV Azteca (www.TVazteca.com; www.irtvazteca.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Advance America (www.advanceamerica.net), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx), Punto Casa de Bolsa (www.puntocasadebolsa.mx), Totalplay (www.totalplay.com.mx) and Totalplay Empresarial (totalplayempresarial.com.mx). TV Azteca and Grupo Elektra trade shares on the Mexican Stock Market and in Spains' Latibex market. Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
Globe Newswire: 20:51 GMT Monday 11th February 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 0751938.