NR Finance to Price MXP Bond

Mexico’s NR Finance plans to price MXP3bn ($250m) in 3-year floating rate bonds this week, according to bankers on the deal. Pricing is heard around TIIE+45bp, though official guidance is not expected until mid-week. Scotia Capital and HSBC are managing the deal, which carries a local AA+ rating. This comes after the Nissan leasing subsidiary hit the road last week. The issuer last came to market in November 2010, when it issued MXP2.8bn in 3-year bonds, priced at 65bp over TIIE. Proceeds will be used to refinance debt, bankers say.