Urbi Desarrollos Urbanos SA de CV : URBI announces expiration of the 30 day grace period on the payment of the interest on URBI's 2016 bonds
May 20, 2013 at 02:47 pm EDT
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URBI ANNOUNCES EXPIRATION OF THE 30 DAY GRACE PERIOD ON THE PAYMENT OF INTEREST ON URBI'S 2016 BONDS
Mexicali, Baja California, May 20, 2013.- Urbi, Desarrollos Urbanos, S.A.B. de C.V. announces that the 30 day grace period on the US$6.4 million payment of interest on the Company's 2016 bonds expired on May 19, 2013. The Company does not plan to make such payment of interest at this time.
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Urbi Desarrollos Urbanos S.A.B. de C.V. (MSE: URBI*) is a leading company in innovation and sustainable development in the construction of communities in Mexico. Currently, Urbi is present in
39 cities, covering the main metropolitan areas and the most dynamic medium-size cities in the country. In more than 31 years of operations, Urbi has developed over 430,000 homes, and has always conducted its business with a strong emphasis on financial performance, making it one of the most profitable companies in the sector.
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This document contains forward-looking statements of the Company, including statements about its financial condition and of the Company's future results of operations, its strategy, plans, objectives and targets, and other data that is not historical information. Such forward-looking statements are based on assumptions, plans, intentions and expectations of the Company's management, and involve risks, uncertainties and other factors, known and unknown, some of which are beyond the control of the Company. Such statements should not be interpreted based on past trends and activities, as if they were to continue in the future. Forward-looking statements contained herein are
valid at the date of this document.
Urbi Desarrollos Urbanos SAB de CV is a Mexico-based company primarily engaged in the homebuilding sector. The Company's activities are divided into three business lines: Real estate development, Real estate construction and Plots. The Real estate development line is responsible for the design, construction and sale of own residential buildings, which aim at low, middle, and high-income families. The Real estate construction line comprises management and construction of residential projects for third parties. The Plots line focuses on the acquisition, subdivision and sale of land. The Company develops housing projects under a range of brand names, including UrbiVilla, UrbiQuinta, UrbiHacienda and UrbiClub. The Company operates through numerous subsidiaries, such as Ingenieria y Obras SA de CV, Obras y Desarrollos Urbi SA de CV and Cyd Desarrollos Urbanos SA de CV.
URBI, DESARROLLOS URBANOS, S.A.B. DE C.V. 
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