Elementia Postpones Issue

Mexico’s Elementia has postponed the issue of an MXP3bn 2015 bond due to regulatory delays, according to a banker on the deal. The producer of copper, aluminium and cement products was meant to come to the market on Tuesday but expects to be able to issue the bond at the end of October, adds the banker. The proceeds of the issuance are expected to refinance about half of the debt from any existing $450m 5-year term loan. Moody’s assigned a Ba3 rating to Elementia’s proposed MXP3bn senior unsecured 2015 notes and a Ba3 corporate family rating to Elementia with a stable outlook. Inbursa and Arka are the leads.