Kuo Preps Local Debt

Mexico’s Grupo Kuo is preparing to issue up to MXP700m ($51m) in the domestic bond market June 20. The holding company is looking at a 7-year tenor paying a spread to the TIIE benchmark. Ixe is managing the program, which has an A rating by Fitch. In 2010, Kuo priced a MXP700m 2015 bond at TIIE+260bp, through Ixe. Grupo Kuo has holdings in consumer goods, as well as the chemical and automotive industries.