Holcim Mexico to Issue MXP Bonds

Holcim Mexico plans to raise up to MXP3bn ($249m) in the domestic bond market in late September. The bonds, rated AAA on a national scale, are scheduled to be issued late September. The bonds will be guaranteed by Switzerland’s Holcim. Tenor has yet to be determined, but the cement company may raise the money through 2 tranches, offering fixed and floating rate instruments. Proceeds are going to refinance debt. Banamex, BBVA Bancomer and Santander have the mandate.