Grupo KUO Plans MXP Issue

Mexico’s Grupo KUO is looking to issue MXP700m of 5 year bonds in November, according to a filing on Mexico’s bolsa. The bonds will pay a spread over TIIE (which closed on Friday at 4.87%) and have a BBB + rating on a national scale. IXE is the bookrunner on the deal. Proceeds will be used to refinance liabilities and for other corporate purposes. KUO has holdings in the consumer goods, chemical and automotive industries.