Mexico’s Sigma Preps Local Bond Offering

Mexican food producer Sigma Alimentos is roadshowing a local bond issue worth up to MXP2bn. The subsidiary of Grupo Alfa plans to issue MXP1.5bn-MXP2bn mid-December, treasurer Reynaldo Garza tells LatinFinance. It will comprise a to-be-determined combination of 2014 fixed and 2012 floating-rate notes. “The Mexican market has been a bit tighter in the last few months, but there is still room in November and early December to obtain attractive financing,” he says. Proceeds will refinance short-term debt. Bank of America is managing the offer.