Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) will issue $750 million in debt notes, the company announced this week.
The company approved the deal in a meeting January 30, according to a document filing at the country’s stock exchange Bolsa Mexicana de Valores (BMV). AHMSA said it will offer the notes in the US and other foreign markets.
Additionally, the company said it will use subsidiaries Minera del Norte S.A, Compañía Real del Monte y Pachuca S.A and Compañía Minera El Baztán as a guarantee for the notes.
In June 2017 AHMSA said it intended to re-list at the Mexican stock exchange. The year prior, a judge approved a company’s $1.7 billion debt restructuring plan, ending a 17-year suspension of payments.
AHMSA has not traded stock on BMV since 1999, after the company stopped paying creditors.