Telmex Readies Domestic Bond

Telmex plans to sell up to MXP8bn in domestic bonds as soon as today, according to bankers managing the transaction. The issuer was heard still waiting for regulatory clearance Tuesday for the AAA sale. As with many of the big-ticket DCM offerings this year in Mexico, Telmex has the option to allocate all or part of the total amount among different tranches, in this case floating-rate notes with 2011 and 2013 maturities. Proceeds are marked for general corporate purposes, including debt refinancing. Inbursa and BBVA are managing the sale. Documentation appears to also be slowing up fellow blue-chip issuer Femsa, whose up to MXP8bn domestic bond had been expected this week and is now expected next week at the soonest, according to bankers managing the sale. The brewer is preparing up to MXP6bn in fixed and floating-rate notes through BBVA and Santander. Separately, a MXP1bn 5-year consumer loan securitization from Consupago, managed by Deutsche Bank, has also been pushed back, to July 15.