Cemex Adds to April MXP Bond Pipeline

Mexican building materials provider Cemex plans to sell up to MXP3bn in peso-denominated bonds in April. The mxAA+ offering will include a 2018 fixed-rate tranche, and a 2010 tranche over 28-day TIIE. Cemex has not yet set the sale date or indentified use of proceeds. Santander is managing the sale. Cemex sold MXP2.5bn in 7 and 10-year UDI-denominated bonds in December via HSBC. Separately, ING Hipotecaria is heard preparing a RMBS issue of up to MXP1bn via Santander to price in April. Grupo Posadas’ MXP2.5bn sale in 2018 fixed and 2013 floating-rate notes via Credit Suisse is slated for April 1, and Infonavit is preparing to sell MXP3bn in 2030 MBS April 9 through Banamex and Deutsche. Telmex may also follow with a mixed issue of up to MXP3bn in AAA notes up to 20 years via Inbursa. Broadcaster Televisa has filed for an MXP7bn 4-year shelf.