Facileasing Plans Local Issue

Mexico’s Facileasing is preparing to issue up to MXP1bn ($78m) in new bonds in the domestic market. The issuer is able to choose among a 2-year tranche paying a spread to the TIIE and a 7-year fixed-rate tranche. The transaction would represent the third issuance under a MXP10bn program. Proceeds will be used for general corporate purposes. BBVA Bancomer, who owns the Mexican vehicle fleet leasing company, is managing the sale. The deal is expected the week of March 4. Facileasing is rated AAA on a national scale.