Famsa Locks Down TIIE Tap

Mexico’s Grupo Famsa has sold MXP1bn in floating rate bonds domestically. The 2012 notes will pay interest at the TIIE plus 250bp. The total book size reached about MXP1.5bn, according to a banker on the sale. The transaction, which counts on a guarantee from Nacional Financiera is rated A on a national scale. The retailer will use proceeds for working capital. Ixe led.