Mexico’s Mabe Hits Road with Bond

Mexican domestic appliance maker Controladora Mabe is preparing a dollar bond. The deal should be a $300m 2019, according to ratings reports assigning a BBB- mark. A US and European roadshow is set to begin Friday in London, visit New York and Boston, before finishing on the US West Coast Wednesday if necessary. Bank of America-Merrill Lynch and HSBC have been hired to manage the sale. Mabe plans to use proceeds to refinance debt. The issue would be Mabe’s first since a $200m 6.5% 2015 sold in 2005 through ABN and Citi. General electric owns 48.4% of Mabe, and is also a JV partner for supplying ranges, refrigerators and other products in the US market.