Caterpillar Credito Looks to Mexican DCM

Caterpillar Credito, the financing arm of Mexico’s Caterpillar subsidiary, plans to issue up to MXP1bn ($77m) in floating rate bonds on December 5. The bonds, guaranteed by Caterpillar Financial Services, have a 2016 legal maturity and 2.5-year average life. The deal rated AAA on a national scale comes with initial price thoughts of TIIE+35-40bp. Proceeds will be used for general corporate purposes. HSBC is the sole lead.