Ideal Plans MXP Foray

Mexico’s Impulsora del Desarrollo y El Empleo en America Latina (Ideal) is preparing a domestic bond transaction. The Carlos Slim infrastructure vehicle is aiming for a MXP4bn ($288m) 2014 bond paying a spread over TIIE. The regulatory filings indicate an expected October 20 pricing. Inbursa is listed as the only lead at this point, though Slim companies usually add additional banks at a later date. The sale is not yet rated. Ideal had planned to raise MXP6.14bn in July through an equity follow-on via Banamex and Inbursa, but market conditions appear to have delayed this process, along with all other new issuance in the Mexican pipeline.