Electrical Parts Maker Prints MXP Bond

Mexican electrical parts maker Xignux has priced a MXP1.5bn ($114m) domestic bond, according to a person familiar with the transaction. The 10-year fixed-rate bond priced at 8.96% or Mbonos+250bp, flat to guidance, and received MXP2.5bn in demand. Proceeds from the transaction, rated AA on a national scale, will be used to repay debt. The funds will also be used for other corporate purposes. Banamex managed the sale. It was the first local bond for Xignux since a MXP1.4bn 2015 in June 2008.