Business Services Industry
Grupo Posada issues senior debt paper.
Internet Securities, October, 2004
MEXICO CITY, Oct 05, 2004 (El Economista/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- The Mexican hotel firm Grupo Posadas successfully issued US$150 million in senior debt paper expiring in 2011.
The resources obtained from the operation will be used to pay off the firm's debt. According to the firm, the paper will be 100% guaranteed by the its main subsidiaries.
In related news, the value of the firm's stock on the Mexican Stock Exchange (BMV) has climbed 24.9% so far this year. In the last 30 days specifically, it gained 4.62%.
Grupo Posada is the most important hotel operator in Mexico and Latin America. Its main business chains include Fiesta Americana Grand, Fiesta Americana, Fiesta Inn, Caesar Park, Caesar Business, and The...
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