Mexican Sets Yield Target

Mexican Sets Yield Target

Mexico Bonds

Mexico’s Grupo Famsa is out with mid-to-high 7% initial price talk for a new 2020 NC4 bond ahead of pricing expected this week, according to people familiar with the sale. The B/B+ retailer of household and consumer goods is scheduled to finish a roadshow in Los Angeles today. The price level compares to the 2018 bonds of larger and more leveraged Mexican retailer Elektra, trading at 5.8%-6.0% Tuesday. Other Mexican high-yield credits that the market might look to for comparison include Grupo Po

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