Holcim Preps MXP Bond

The Mexican unit of Switzerland’s Holcim plans to issue up to MXP3bn ($217m) in the domestic bond market on June 13, conditions permitting. The guaranteed notes may be split between 5-year floating rate and 10-year fixed rate tranches. Proceeds are to be used to refinance the cement maker’s debt. Banamex, BBVA, and Santander are handling the transaction, rated AAA on a national scale. Pricing is expected to be in line with previous issuances. Holcim last issued MXP1.5bn in the domestic debt market in March, pricing a 3-year floating-rate bond at TIIE+57bp.