Bus Operator Ready for Securitization

Price talk for IAMSA’s 15-year bond sale is Mbonos+390bp-area, according to people familiar with the sale. The bus operator will look to price the MXP3.5bn ($268m) securitization in the Mexican domestic bond market on Wednesday. The transaction is backed by the bus operator’s 1,438 buses and future ticket sale revenues, and will raise funds to repay bank debt. Santander is managing the sale, rated AAA/AA minus on a national scale.