Elektra Prices MXP2bn in Local Bonds

Elektra Prices MXP2bn in Local Bonds

Mexico Bonds Economy & Policy

Grupo Elektra priced MXP2bn in 3-year bonds at 300bp over TIIE, in line with guidance, according to a banker on the deal. Demand for the Mexican financial and retail company’s bonds reached 2x oversubscription, he says. Investors included private banks, mutual funds, bank treasuries and some insurance companies. Investors say the pricing was attractive. “It is a well known name and the company is doing well,” says one Mexico City-based investor. The bonds are rated A on a national scale by Fitch

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