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Rail News Home Financials

8/23/2011



Rail News: Financials

KCS extends two exchange offers


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Yesterday, Kansas City Southern announced Kansas City Southern de Mexico S.A. de C.V. has extended the expiration date of its offer to exchange outstanding 6.625 percent senior notes due 2020 for new registered 6.625 percent senior notes due 2020. The railroad also has extended an offer to exchange outstanding 6.125 percent senior notes due 2021 for new registered 6.125 percent senior notes due 2021.

Both exchange offers were set to expire at 5 p.m. Eastern time on Aug. 22; now, they will expire at 5 p.m. Eastern time on Aug. 26. All other terms and conditions of the exchange offers remain the same.

As of 12:30 p.m. Eastern time on Aug. 22, approximately $173.6 million principal amount of private 6.625 percent notes have been tendered for exchange and $195.2 million principal amount of private 6.125 percent notes have been tendered for exchange, according to KCS.