(The following report appeared on the Kansas City Star website on May 14.)
KANSAS CITY — Kansas City Southern today said its Kansas City Southern de Mexico SA de CV unit will offer $165 million in debt to institutional buyers.
The railroad holding company said its Mexican subsidiary plans to combine the proceeds with a $30 million bank loan to redeem its 12.5 percent senior notes due in 2012.
In trading Friday on the New York Stock Exchange, Kansas City Southern shares closed at $48.81. Shares have traded in a 52-week range of $22.71 to $39.51.