Lender Prints MXP Bond

The Mexican subsidiary of Nissan-Renault’s NR Finance vehicle financing arm has priced a MXP3.0bn ($227m) domestic bond, according to a person familiar with the transaction. The 2016 priced at TIIE+30bp, flat to guidance, and received 1.19x demand. Proceeds will be used to substitute debt and for general corporate purposes. BBVA Bancomer and Bank of America Merrill Lynch managed the transaction, rated AAA on a national scale. NR Finance Mexico provides financing services for the acquisition of Nissan and Renault automobiles in Mexico. The issuer was previously in the domestic market in March 2012 when it raised a MXP2.5bn 2015 paying TIIE+50bp.