Famsa Keeps HY Hopes Afloat

Famsa Keeps HY Hopes Afloat

Mexico Bonds

Mexico’s Grupo Famsa has priced a $250m 2020 NC4 bond, with the single-B retailer sidestepping the dismal sentiment surrounding Mexico’s homebuilders and credits including ICA. The transaction drew $850m in orders and largely taken as a positive sign for the region’s high-yield issuers, which have had strong access to the market so far this year. Raising money to fund a tender offer, the B/B+ retailer of household and consumer goods priced the bond at 99.325 with a 7.250% coupon to yield 7.375%,

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