Metalsa Bond Oversubscribed

Metalsa Bond Oversubscribed

Mexico Bonds

Investors have placed $500m of orders for a 2023 bond from Mexican vehicle parts manufacturer Metalsa which is expected to price as soon as today, according to people familiar with the sale. Lead managers Bank of America Merrill Lynch and Citi have released low 5% initial price thoughts for the firm’s international debut. Metalsa is planning a $300m bond, according to ratings agencies assigning a BB+/BBB minus rating. Bankers are using BB+/BBB minus rated Peruvian cement company Cementos Pacasma

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