UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2000
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DESC, S.A. DE C.V.
(Translation of registrant's name into English)
PASEO DE LOS TAMARINDOS 400-B, BOSQUES DE LAS LOMAS, 05120 MEXICO, D.F., MEXICO
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F. Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-___________.
NY2:\869391\01\$MTR01!.DOC\41150.0012
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Desc, S.A. de C.V.
(Registrant)
Date: January 20, 2000 By /s/ Ernesto Vega Velasco
---------------- ----------------------------------
(Signature)*
Name: Ernesto Vega Velasco
Title: Chief Financial Officer
* Print the name and title under the signature of the signing officer.
2
<PAGE>
EXHIBIT INDEX
Sequential
Item Page Number
---- -----------
1. Press Release announcing US$15 million repurchase
of outstanding debt guaranteed by Registrant............... 4
2. Press Release announcing the prepayment of US$120
million unsecured term loan of Registrant.................. 5
3
EXHIBIT 1
---------
[Desc Logo] FOR IMMEDIATE RELEASE
Contact: DESC
Arturo D'Acosta Ruiz
Mariana Alvarez Neder
011 525 261 8000
[email protected]
- or -
CITIGATE DEWE ROGERSON
Mikhal Stein
305 381 6500
[email protected]
DESC S.A. DE C.V. ANNOUNCES US$ 15 MILLION
------------------------------------------
REPURCHASE OF OUTSTANDING DEBT
------------------------------
MEXICO CITY, Mexico, January 6, 2000 -- DESC, S.A. de C.V. (NYSE: DES;
BMV: DESC) today announced that in December, Dine, S.A. de C.V., its real estate
subsidiary, bought back 10% of its 83/4 Guaranteed Notes due 2007. The
transaction, equivalent to a nominal amount of US $15 million, was repurchased
using the Company's own resources. The operation was done at a discount of 10%.
The objective of the transaction follows the Desc's strategy of
reducing its debt level. Subsequent to the repurchase, the outstanding balance
in Guaranteed Notes is US$ 135 million.
DESC S.A. de C.V., headquartered in Mexico City, is one of the largest
industrial groups in Mexico. Through its wholly-owned subsidiaries, DESC is
engaged in the auto-parts, chemicals, food, consumer products and real estate
industries. More information about DESC S.A. de C.V. can be obtained via the
Internet at www.desc.com.mx.
DESC S.A. de C.V.
Paseo del los Tamarindos 400-B
Bosques de las Lomas
05120 Mexico D.F.
www.desc.com.mx
# # #
EXHIBIT 2
---------
[Desc Logo] FOR IMMEDIATE RELEASE
Contact: DESC
Arturo D'Acosta Ruiz
Mariana Alvarez Neder
011 525 261 8000
[email protected]
- or -
CITIGATE DEWE ROGERSON
Mikhal Stein
305 381 6500
[email protected]
DESC ANNOUNCES PREPAYMENT OF US$120 MILLION
-------------------------------------------
UNSECURED TERM LOAN
-------------------
MEXICO CITY, MEXICO, January 18, 2000 DESC (NYSE:DES) today announced today the
prepayment of its US$120 million syndicated loan due January 14th 2001.
The loan had a term of two years and a fixed interest rate of Libor plus 375
basis points. The financial institutions participating in the loan include
Citibank as administrative agent, J.P. Morgan as syndication agent, Banco Bilbao
Vizcaya, Credit Suisse First Boston, Chase Manhattan Bank, ING Barings, J. P.
Morgan and Salomon Smith Barney as Arrangers, Banco Inbursa, Banque Nationale de
Paris/Mexico as Managers and Comerica Bank, The First National Bank of Chicago
and GE Capital as Co-Managers.
The funds used for the payment were mainly obtained from the sale of Grupo
Campi, S.A. de C.V.
The objective of the transaction follows Desc's strategy of reducing its debt
level and high rate financing costs.
DESC S.A. DE C.V.
PASEO DEL LOS TAMARINDOS 400-B
BOSQUES DE LAS LOMAS
05120 MEXICO D.F.
WWW.DESC.COM.MX
