Paccar Prices MXP Bond

Paccar Financial Mexico has issued a MXP1bn ($76m) bond, representing its first domestic Mexican issue since 2008. The 2015 floater priced at TIIE+40bp, in line with price talk of 35bp-40bp. Mutual funds, insurance companies and retail investors drove demand, which reached 1.5x, according to a person with knowledge of the sale. BBVA Bancomer and Banamex managed the deal, rated AAA on a national scale.