Kimberly-Clark Sells MXP Bonds

Kimberly-Clark de Mexico has sold MXP2.7bn in bonds on the domestic market. The Mexican unit of the manufacturer of Huggies diapers and Kleenex tissues placed MXP2.3bn in 2014 floating-rate notes at TIIE plus 95bp and MXP400m in 2019 fixed rated bonds paying 9.67%, or Mbonos plus 190bp. Demand topped MXP4.6bn on the floating part and MXP1.1bn on the fixed portion, according to bankers on the deal. Banamex and HSBC managed the sale, rated AAA on a national scale. It was the issuer’s second placement of the year, following a MXP3.5bn fixed and floating-rate placement in March through the same banks. GE Capital is expected to follow today with MXP2bn in 2012 floaters via Banamex.