ABS Marks Vitro Market Return

Mexico’s Vitro has priced a MXP1.2bn ($91m) domestic market securitization, according to people familiar with the transaction, its first new bond of any kind since before a controversial restructuring process. The 2016 bond backed by the glassmaker’s accounts receivables priced at TIIE+170bp, flat to guidance. Demand reached MXP1.4bn with participation from mutual funds, money market accounts, insurance companies and bank treasuries. BBVA Bancomer and Banorte-Ixe managed the sale, rated AAA on a national scale. Vitro last priced a domestic bond in 2005, raising MXP550m, according to Dealogic data.