Caterpillar Credito Sees Near-Term Issue

Mexico’s Caterpillar Credito, the financing arm of Mexico’s Caterpillar subsidiary, plans to issue local bonds in the near-term, says David Kacynski, treasurer of Caterpillar Financial Services Corp. The company is expected to price a MXP900m ($77m) 5-year floater, rated AAA on a local scale. Proceeds are earmarked for general corporate purposes. BBVA Bancomer has been mandated to lead the transaction.