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Rail News: Rail Industry Trends
9/1/2010
Rail News: Rail Industry Trends
KCSM creates credit facility, promotes law department exec
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Yesterday, Kansas City Southern announced it established a $100 million revolving credit facility for Kansas City Southern de México S.A. de C.V. (KCSM). The credit will improve the railroad’s liquidity and financial flexibility, according to KCS.
KCSM also will redeem the remaining $63.7 million of its 9.375 percent senior notes due in 2012. The railroad’s year-to-date debt reduction, including the note redemptions, will total about $337 million, which is in line with a previously announced debt reduction plan.
Meanwhile, KCSM also announced it promoted Edgar Aguileta Gutierrez from associate general counsel and alternate corporate secretary to senior associate general counsel and alternate corporate secretary.
Gutierrez, who has more than 16 years of experience in corporate law, contracts, litigation, and regulatory and administrative law, joined KCSM in 2001. He previously was an associate with the Arroyo, Galindo y Lara, Abogados law firm, and an assistant professor of civil and commercial litigation at Instituto Tecnológico Autónomo de México.
KCSM also will redeem the remaining $63.7 million of its 9.375 percent senior notes due in 2012. The railroad’s year-to-date debt reduction, including the note redemptions, will total about $337 million, which is in line with a previously announced debt reduction plan.
Meanwhile, KCSM also announced it promoted Edgar Aguileta Gutierrez from associate general counsel and alternate corporate secretary to senior associate general counsel and alternate corporate secretary.
Gutierrez, who has more than 16 years of experience in corporate law, contracts, litigation, and regulatory and administrative law, joined KCSM in 2001. He previously was an associate with the Arroyo, Galindo y Lara, Abogados law firm, and an assistant professor of civil and commercial litigation at Instituto Tecnológico Autónomo de México.
