Elementia to Issue Debut MXP Bond

Mexican building supply conglomerate Elementia has filed a shelf to issue up to MXP5bn in debt. It is looking to issue a bond in the local market in the coming weeks, according to a spokesperson for the company. Inbursa and Arka are managing the sale, though the date and size of the issue have not yet been determined. Elementia will not be doing a roadshow because it is a local deal, adds the spokesperson, though 3 main investors that LatinFinance spoke to about the transaction say they are unfamiliar with the credit. The issuer was due to sell $400m in 2020 bonds in May after meting with US and UK investors, though pulled it along with the region’s other DCM hopefuls when global markets took a tumble.