Interjet Preps Domestic ABS

Mexico’s Interjet is preparing to issue up to MXP2bn ($154m) in asset-backed bonds in the domestic market on Tuesday. The 5-year floating rate bonds have a 2.5 year average life are backed by credit card receivables from airline ticket purchases – which constitute 60% of sales. The airline aims to price in the TIIE+250bp-270bp range. Bank of America Merrill Lynch is leading the transaction, rated AA minus on a national scale.