Sicrea Nears ABS Retap

Sistema de Credito Automotriz (Sicrea) plans a MXP300m ($23m) reopening of its 2017 bonds backed by trade receivables Thursday. In the original deal, Sicrea priced MXP1bn of the 2017 bonds at TIIE+160bp. ING is managing the transaction, rated AAA on a domestic scale. Sicrea is an association of Nissan dealers which provides auto loans.