Bus Securitization Finally Arrives

Bus Securitization Finally Arrives

Mexico Bonds Structured Finance

IAMSA has priced a MXP3.5bn ($276m) securitization in Mexico's domestic bond market, clinching the deal after two previous pricing attempts during the last six months. The 2028 notes backed and guaranteed backed by the bus operator's 1,480 buses and future ticket sale revenues priced at 8.90% or Mbonos+420bp, in line with company expectations and wider than the Mbono+390bp it has sought earlier. Demand reached 1.03x, with approximately 17 accounts participating, including Afores and insurance co

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