Mexican Bus Operator Preps MXP Securitization

IAMSA will look to price a MXP3.5bn ($270m) securitization in the Mexican domestic bond market on Monday, say people familiar with the inter-city bus company’s plans. The 15-year deal is backed the bus operator’s 1,438 buses and future ticket sale revenue, and will raise funds to repay bank debt. Santander is managing the transaction, rated AAA/AA minus on a national scale.