Femsa Preps Roadshow

Mexico’s Femsa is planning investor meetings next week, according to people familiar with the transaction. The issuer is targeting a new international bond, of up to $1bn at up to 30 years, according to a report from Fitch ratings, which assigns an A rating. Starting Monday, Femsa will meet investors in Santiago, London, Lima, Los Angeles and Boston and the US East Coast, the US Midwest and finish in New York May 6. The issuer is looking for funds to refinance debt at the holding company level and for general corporate purposes. BBVA, Citi, and Goldman Sachs are managing the deal. Femsa has made use of Mexico’s domestic bond market in recent years, but has not sold a cross-border bond since 1999, according to Dealogic data. The potential SEC-registered transaction is expected to be rated BBB+/A.