Herdez Talks Price

Mexico’s Grupo Herdez is planning to issue up to MXP600m in 4-year bonds today, with price talks heard in the 60bp over TIIE area, according to investors. Banamex is leading the deal, which is rated AA on a national scale. The issue had originally been expected on February 4, but the pricing date was moved after the roadshow was extended, says a lead banker. The producer of juices and canned vegetables, best known for its salsa, plans to use proceeds to refinance existing debt and for capex.