Arca Prepares Local Bond Return

Embotelladoras Arca is preparing to return to Mexico’s local DCM, raising up to MXP1.5bn. The Mexican bottler rated AAA on a national scale is readying a 2012 floating tranche and a 2016 fixed rate tranche, possibly coming to market in early June, according to a banker on the deal. HSBC, BBVA and Bank of America are managing the transaction. Arca was one of the first issuers out of the gate in February, after a long dry spell for Mexican DCM, pricing MXP1.4bn in 13-month bonds at the 28-day TIIE plus 155bp.