Famsa Brings Small CP

Famsa Brings Small CP

Mexico

Mexican retailer Grupo Famsa has priced a $27m 1-year deal at par to yield 8%. The issuer was heard looking for $50m in the Reg S only CP, but apparently fell short owing to a year-end lull in investor interest. “There is less liquidity and there is less enthusiasm,” says a DCM banker not on the deal, speaking of buyside appetite for LatAm credit generally. The deal through Jefferies was is unrated, listed in Luxembourg and governed by New York law. Proceeds are for general corporate purposes. F

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