SIPyT Targets October Sale

Servicios Integrados de Pasaje y Turismo (SIPyT) is aiming to sell up to MXP3.5bn ($251m) in Mexico’s domestic bond market on October 25. The 15-year securitization is backed by receivables from bus fleet operations, and will be denominated in UDIs or pesos. The transaction would be a debut for SIPyT, a unit of Mexico’s Inversionistas en Autotransportes Mexicanos Servicios (IAMSA). Santander is managing the deal, rated AAA on a national scale. Crecimiento Programado is structuring agent.