Famsa Taps Euro CP

Mexican retailer Grupo Famsa has raised a $44m euroclearable CP issue. The 1-year discount note pays an 8% yield at maturity. Proceeds are being used to help finance retail purchases of white goods by customers. The deal was placed largely with retail accounts, says a banker on it, including family offices and private banking. Famsa’s last visit to the market was a MXP1bn offering of 2012 cebures at TIIE+250bp via Ixe. Last week’s CP was led by US-based broker Atlas One, which acted as placement agent. Execution Finance, a Mexico-based shop, was Famsa’s financial advisor.