VENA Sells $110 Million Notes

Mexican Vitro Envases Norteamérica (VENA), a subsidiary of glass manufacturer Vitro, has sold $110 million of senior short-term guaranteed notes. The one-year notes carry a 10% interest rate. The money raised is to be used to prepay a $105 million loan with Credit Suisse, lowering the cost of the company’s debt. The issue was 40% oversubscribed, according to the company’s press release. The offering was arranged by BCP Securities.