October 15, 2013
Brokerage firm Grupo Bursatil Mexicano (GBM) plans to issue a domestic bond
Brokerage firm Grupo Bursatil Mexicano (GBM) plans to issue a domestic bond of up to MXP1.5bn ($114m) October 22, according to a regulatory filing. Proceeds from the 4-year floater will be used to replace existing debt and for working capital purposes. The issuance is rated AA on a national scale and led by BBVA Bancomer, HSBC and GBM. In May, the issuer priced a MXP650m 1.2-year floating-rate bonds paying TIIE+25bp.