Aeromexico Prints Domestic ABS

Aeromexico has raised MXP1.5bn ($115m) from the sale of domestic bonds backed by future flows from credit card payments. The 2018 bond priced at TIIE+200bp, according to people familiar with the matter. Proceeds will be used to replace existing debt. Actinver, Banamex, and BBVA managed the deal, rated AA+ on a national scale. Aeromexico issued $117m in bonds guaranteed by the US Export-Import Bank in July, but has otherwise not been a frequent borrower in the domestic or international bond markets in recent years. It raised $330m in an IPO in 2011.