Vitro Nears Domestic ABS

Mexico’s Vitro plans to price a domestic ABS of up to MXP1.2bn ($91m) Thursday, according to people familiar with the transaction. The 3-year floating-rate deal backed by accounts receivables would be the glassmaker’s first local bond since before its bankruptcy process. Proceeds will be used to fund operations. The issuance is rated AAA on a national scale and led by BBVA Bancomer and Banorte-Ixe. Vitro last priced a domestic bond in 2005, raising MXP550m, according to Dealogic data.