FEMSA Places MXP6bn Bonds; Pipeline Builds

FEMSA Places MXP6bn Bonds; Pipeline Builds

Mexico

Mexican brewer Femsa priced Wednesday MXP6bn in local bonds in two tranches. A MXP2.5bn 2017 UDI-denominated tranche priced at 4.21%, via HSBC and Santander. A MXP3.5bn 2013 floater priced at TIIE minus 5bp, via BBVA and Scotia. Total demand, mainly from Mexican funds and insurance companies, exceeded MXP20bn, according to bankers on the AAA rated transaction. Proceeds refinance debt. More local bonds are on the way before the end of the year, as retailer Liverpool is preparing to sell MXP3bn-MX

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