Mabe Gets 65% of Tender

Controladora Mabe has received acceptance from holders of $131m, or 65.45%, of its 2015 bonds in a tender offer, as of the June 11 final deadline, it says. The Mexican white goods manufacturer’s acceptance rate was only slightly higher than what it had at the May 29 early acceptance date, at which it extended the early deadline to match the June 11 final deadline. Mabe offered to exchange the 6.5% 2015 bonds for new reopened 7.875% 2019s. It is offering $1,000 in the new bonds for each $1,000 tendered of the 2015s. Bank of America Merrill Lynch managed the process. The 2015 bonds were sold in 2005 for $200m. The 2019s to be reopened in the operation were originally sold in 2009, for $350m, through BAML and HSBC.