Mexican Corporates Hit Local Pipeline

Mexican food producers Grupo Herdez and Sigma Alimentos, as well as Mexican retailer Grupo Famsa, are expected to come to the MXP bond market in February, according to regulatory filings. Grupo Herdez is expected on 4 February, with floating rate bonds, with Banamex acting as bookrunner on the deal. Sigma Alimentos is expected on 18 February with a dual tranche fixed and floating rate transaction, for which Bank of America Merrill Lynch is the lead. Grupo Famsa is expected to issue up to MXP1bn, with IXE acting as sole bookrunner. The bonds will pay a spread over TIIE. The sizes, tenors and ratings of the 3 deals have yet to be determined.