Cleary Gottlieb and Davis Polk instructed on $300M bond offering by KIO Networks
Davis Polk acted for KIO Networks while Cleary Gottlieb represented the initial purchasers Credit Suisse Securities, JP Morgan Securities, Morgan Stanley and Santander Investment Securities.
KIO Networks is a Mexico-headquartered provider of information technology infrastructure outsourcing services. It was founded in 2002, and now it offers a comprehensive set of IT infrastructure outsourcing services and solutions within 29 data centers in Mexico, Panama, Guatemala, the Dominican Republic and Spain.
This is the second global bond offering by Kio Networks, the transaction consisted of an offering of $300 million 7.500% senior notes due 2025. Proceeds of the offering are going to be used to redeem the company’s outstanding 8.250% Senior Notes due 2021 and for general corporate purposes.
The bond offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S.
The Davis Polk lawyers advising KIO Networks included partners Maurice Blanco and Rachel D. Kleinberg.
The banks instructed a team at Cleary which included partners Jorge Juantorena and Adam Brenneman.
