Mexican Issuers Ready Domestic Raises

Kimberly-Clark de Mexico and the Mexican unit of Chilean metals producer Molymet are expected to bring domestic bond deals as soon as Tuesday. Kimberly-Clark is readying a 2014 floating-rate tranche and a 2019 fixed rate tranche denominated in MXP or UDIs. The total amount should be MXP3.5bn, according to S&P, which assigns a AAA national scale rating. Proceeds from the sale, through Banamex and HSBC, will refinance debt. Separately, Chilean metals processor Molymet plans to issue 2011 floaters and 2014 UDI-denominated fixed-rate notes, having filed for up to MXP700m of each. Credit Suisse and Banamex are managing the sale, rated AA/AA+ on a national scale. Proceeds will also refinance debt. Santiago-based Molymet operates a molybdenum processing facility in Cumpas, Sonora, in northwestern Mexico, and is resuming plans for its first Mexican DCM offer after shelving them a year ago.