Comerci Upsizes Offering

Mexican retailer Comercial Mexicana (Comerci) said on Friday it had placed 3 billion pesos ($272 million) of its 2027 Europeso bonds, increasing the issue from 2 billion pesos in the face of orders totaling 5 billion pesos. The bonds were sold to yield 8.70%, or 100 basis points over the comparable 2027 Mexican Treasury bonds. Proceeds will be used to repay short-term debt and to finance investment needs, said the company in a filing with the Mexican Stock Exchange. The 144a/Reg S. notes are rated BAA2/BBB-/BBB- (Moody’s/S&P/Fitch). Merrill Lynch led; Credit Suisse acted as co-manager.