Arca Uncaps MXP Issue

Mexican bottler Embotelladoras Arca has sold MXP2.5bn in domestic fixed and floating-rate bonds. A MXP2.1bn 5-year tranche pays TIIE plus 95bp, while a MXP400m 7-year piece pays a fixed 9.5%, or Mbonos plus 180bp. Proceeds from the sale, rated AA on a national scale, are marked for refinancing debt. In June, the bottler sold MXP1.5bn in domestic bonds, including MXP1.0bn in 2012 notes at TIIE plus 100bp, and MXP500m in 2016s at a fixed 9.75% rate.