Su Casita Targets Nearby Maturities

Mexican mortgage lender Su Casita plans to attempt a short-term debt rollover by offering new commercial paper to holders of some MXP840m in CP issued last year, according to regulatory documents. The date of the exchange period has not been set, but Su Casita is aiming for an early-February launch, says a banker managing it. The process could be similar to Cemex’s December offer of $500m in 2011 bonds to holders of notes due 2008-2009. Su Casita will offer new 2010 floating-rate bonds to holders of 5 series of MXP840m in floating-rate CP due between March and June of this year. Santander is managing the operation.