October 16, 2013
Mexico’s Vitro plans to issue a domestic ABS of up to MXP1.4bn ($107m) on N
Mexico’s Vitro plans to issue a domestic ABS of up to MXP1.4bn ($107m) on November 15, according to a regulatory filing, what would be its first local bond since before its bankruptcy process. Proceeds from the 3-year floating rate note will be used to fund operations. It is backed by accounts receivables. The issuance is rated AAA on a national scale and led by BBVA Bancomer and Banorte-IXE. Vitro last priced a domestic bond in 2005, raising MXP550m, according to Dealogic data.