Posadas Takes to the Road

Grupo Posadas is meeting fixed-income accounts this week, after launching a cash tender offer last week targeting its $200m outstanding in 9.250% 2015 bonds. The Mexican hotel operator’s roadshow begins today in New York, and visits Boston, Los Angeles, London and Zurich before wrapping up in Santiago November 14. Bank of America Merrill Lynch, Citi, Deutsche Bank, Santander and JPMorgan are managing. The Mexican hotel operator is offering holders $1,045 per $1,000 principal before a November 14 early deadline, and $1,015 through the final November 29 deadline. Bank of America Merrill Lynch and JPMorgan are handling the tender.