Famsa Local Bond Prices In-line with Guidance

Mexico’s Grupo Famsa on Friday issued MXP1bn in 3-year bonds, at TIIE +280bp, in-line with guidance, according to a banker on the deal. Private banks, treasuries and mutual funds were the main participants in the BBB rated deal. Proceeds will be used to repay an 18-month bond for the same amount that was issued in 2009. Ixe was the lead bank on the deal.