Famsa Talks Guidance, Builds Demand

Famsa Talks Guidance, Builds Demand

Mexico Bonds

Investors have placed more than $700m in orders for a new 2020 NC4 bond for Mexico’s Grupo Famsa expected to price as soon as today, according to people familiar with the sale. Guidance has been given as 7.5%-area, and follows mid-to-high 7% initial price talk. The B/B+ retailer of household and consumer goods finished an investor meetings Wednesday. The price level compares to the 2018 bonds of larger and more leveraged Mexican retailer Elektra (BB minus), trading at 5.8%-6.0%, and other region

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