Kuo Shaves Yield in Tap

Mexico’s Grupo Kuo has added $50m to the 9.750% of 2017 bonds it sold 3 years ago. The maker of auto parts, plastics and canned foods reopened at 106.500 to yield 8.507%. Proceeds are marked for debt repayment. The trade was run by Credit Suisse, a bookrunner on the original $200m sale in 2007, which yielded 9.875%. The other lead, Citi, was not on the tap.