Alsea to Issue in Mexican Market

Mexican restaurant operator Alsea is looking to issue up to MXP1bn of 5-year bonds in September, according to a regulatory filing. The notes will yield a spread over TIIE, with Santander and BBVA Bancomer as joint leads on the deal. The AA rated issuer sold MXP400m of 3-year bonds in March via HSBC, paying 175bp over TIIE.