Bus Operator Postpones Securitization

Mexico’s IAMSA has put off a MXP3.5bn ($268m) securitization that had been scheduled to price today in the domestic market. “The bus operator decided to postpone as pricing expectations were not met,” says a person familiar with the transaction. IAMSA was looking to price in the Mbonos+390bp-area spread range for the 15-year bond. The new timing is unclear. Santander is managing the sale, rated AAA/AA minus on a national scale.