Comerci Extends Domestic Exchange

Tiendas Comercial Mexicana has again extended the period for its local debt exchange offer, to April 30 from April 14. Parent Controladora Comercial Mexicana seeks to extend its maturity profile as it recovers from crisis-related derivative problems. The retailer is offering holders up to MXP1.5bn in new 2016 notes in exchange for 5 series of outstanding bonds with nearer maturities. The new bonds are rated BB on a national scale and should be issued following the close of the offer. Comerci has not indicated the acceptance rate to this point. Ixe is managing the transaction, originally launched January 5.