Nueva Elektra del Milenio, the retail division of Grupo Elektra owned by Mexican billionaire Ricardo Salinas, has successfully raised $350 million through the sale of remittance bonds.
The funds will be used to refinance existing notes that were at risk of a rating downgrade, which could have triggered early repayments.
The dollar-denominated notes, which will mature in October 2031, were issued with a yield of 12.5%, in line with initial pricing expectations.
This action reflects the company's strategy to effectively manage its debt obligations while navigating potential market challenges.