Ally MXP Bond Pricing Tightens

Ally Credit, the Mexican auto financing company, priced a 1.5 year, MXP1bn bond on Tuesday, at 120bp over TIIE, tight of guidance of 150bp over TIIE. Ixe and Scotia were bookrunners on the deal. The deal was more than 3 times oversubscribed, with treasuries, investment funds, private banks and retail banks taking tickets, says a banker on the deal. The bonds are rated AAA on a national scale. Proceeds will be used to finance auto loans.