Orbia Advance Corporation’s Bond Repurchase
Orbia Advance Corporation, a diversified industrial conglomerate with businesses in petrochemicals and solutions, announced that 90.06% of its bondholders participated in an early offer to buy back bonds with a 1.875% coupon and maturing in 2026.
The company successfully repurchased $540,382,000 of the total $600,000,000 in circulating bonds through this preemptive offer. Orbia paid a $1,000 premium to bondholders for every $1,000 in bond face value during the offer period.
Orbia’s stock dropped 2.87% on Thursday at the Mexican Stock Exchange, trading at $13.19 per share.
América Móvil’s Financial Statement Delivery
América Móvil, the largest telecommunications company in Latin America, stated that it has fulfilled its obligation to deliver a financial statement to U.S. securities authorities.
The company submitted a declaration to the Securities and Exchange Commission (SEC) under Form 6-K, which includes certain information, including financial data, as per a press release.
América Móvil’s declaration is an explanatory report by a foreign private issuer in the U.S., conforming to Rule 13a-16 or 15d-16.
Idei’s Liquidity Concerns
International de Inversiones (Idei), a Mexican real estate project developer, acknowledged facing liquidity issues to meet its short-term operational and financial commitments.
Idei plans to monetize certain assets, sell project participations, secure additional financing, and restructure limited-purpose objects with financial institutions to continue its operations.
The company assured that it will safeguard the business interests for the benefit of its clients, employees, investors, suppliers, contractors, and the entire value chain.
Shein to Enhance Product Testing
Shein, a fast-fashion retailer operating in 150 countries, announced plans to increase product testing this year following a warning from the European Union regarding potential fines if it fails to address concerns about product safety sold on its website.
Shein aims to conduct 2.5 million product safety and quality tests in 2025, up from 2 million last year. The company will invest $15 million in compliance initiatives this year.
Shein also operates a marketplace for sellers of toys, electronics, and home goods shipped directly from factories primarily located in China to customers worldwide.
Key Questions and Answers
- What is Orbia Advance Corporation? Orbia Advance Corporation is a diversified industrial conglomerate with businesses in petrochemicals and solutions.
- Why did Orbia repurchase its bonds? Orbia offered to buy back 90.06% of its bonds with a 1.875% coupon maturing in 2026 to improve its financial position.
- What is América Móvil’s obligation? América Móvil, the largest telecommunications company in Latin America, delivered a financial statement to U.S. securities authorities as required.
- Why did Idei acknowledge liquidity issues? Idei, a Mexican real estate project developer, recognized facing liquidity issues to meet its short-term operational and financial commitments.
- What is Shein’s plan regarding product testing? Shein, a fast-fashion retailer, plans to increase product safety and quality testing to 2.5 million tests in 2025 following a warning from the European Union.
