Kimberly-Clark Readies MXP Bonds

Kimberly-Clark de Mexico may sell up to MXP3.5bn in domestic bonds as soon as today, according to bankers managing the sale. The unit of consumer products manufacturer Kimberly-Clark is preparing to issue a 1.5 year floating-rate tranche, with the possibility of a longer dated piece also. Banamex and HSBC manage the sale, rated AAA on a national scale. Kimberly-Clark’s last issuance was MXP2.5bn in 10-year notes which priced at TIIE minus 10bp in July 2007 through Banamex. The Mexican market also awaits domestic bond issuance from Pemex, likely including 2 and 7-year notes, after the oil producer wrapped up this week a roadshow through Santander, HSBC and Banamex.