(The Associated Press circulated the following article on November 21.)
KANSAS CITY, Mo. — Regional railroad operator Kansas City Southern on Tuesday said its Mexican subsidiary has placed $175 million worth of senior notes.
Kansas City Southern de Mexico SA de CV offered the 7.625 percent notes, due in 2013, to institutional buyers and investors outside of the U.S.
The subsidiary will use proceeds to repurchase a portion of its 10.25 percent senior notes due in 2007, as well as to pay down term loan debt.
Shares of Kansas City Southern rose 40 cents to $27.95 in afternoon trading on the New York Stock Exchange.