Grupo KUO Preps $200m Bond Offering

Mexico’s Grupo KUO, a maker of auto parts, plastics and canned foods formerly known as DESC, is preparing a $200m 2017 bond offering to fund the refinancing of existing debt. Pricing is expected at the end of next week, following a roadshow in the US and Europe. Citi and Credit Suisse are joint bookrunners on the offering, rated BB- by Fitch and S&P.