March 12 (Bloomberg) -- Corp. Geo SAB, Mexico’s second-largest homebuilder, plans to meet with investors this week to sell dollar bonds overseas, said a person familiar with the company’s plans.
The Mexico City-based company hired Citigroup Inc., JPMorgan Chase & Co. and Banco Santander SA to arrange the meetings in the U.K. and the U.S., said the person, who asked not to be identified because the discussions are private. The meetings are scheduled to start March 14, said the person.
Moody’s Investors Service said Geo plans to sell as much as $400 million of bonds maturing in 10 years, and the funds raised will be used to pay down existing debt, including $250 million of bonds maturing in 2014.
“With this proposed issuance, Geo will not have important maturities of debt until 2020, which is a positive credit factor,” Moody’s analysts Griselda Bisono and Nick Levidy wrote in an e-mailed statement today.
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