News 06 Jul. 2015

Curtis Acts as US and Mexican Counsel to Leading Hotel Operator on $350 Million Notes Offering and Concurrent Tender Offer

Curtis acted as U.S. and Mexican counsel to Grupo Posadas, S.A.B. de C.V. (“Grupo Posadas”), the leading hotel operator in Mexico, on a liability management and refinancing transaction consisting of a Rule 144A/Regulation S capital markets offering of its new US$350 million aggregate principal amount of 7.875% Senior Notes due 2022 and a concurrent tender offer for any and all of its existing 7.875% Senior Notes due 2017. The 7.875% Senior Notes due 2022 are unsecured and are guaranteed by certain of the subsidiaries of Grupo Posadas and are listed on the Luxembourg Stock Exchange.

The dealer managers for the tender offer and consent solicitation and initial purchasers for the 7.875% Senior Notes due 2022 were Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

The Curtis New York team was led by partner William Candelaria, who was assisted by counsel Susana Namnum, associates Pablo Ruiz and Alexander IL Grande and summer associate Courtney Sladic. The Curtis Mexico team was led by partner Rodrigo Valverde, who was assisted by counsel Antonio De Lisi and associates Carlos Guzman, Ricardo Mier y Teran and Ricardo Gerhard. Partner Klas Holm led the Curtis tax team and was supported by associate Thomas Reilly.