June 11, 2013
Red de Autopistas de Nuevo Leon is planning to reopen its 34-year UDI-denom
Red de Autopistas de Nuevo Leon is planning to reopen its 34-year UDI-denominated bonds for up to MXP1.92bn ($142m), according to a regulatory filing. In the original MXP576m deal, the road operator’s bond, backed by tolls from the Monterrey-Cadereyta highway, priced at 8.7%, or UDIbonos+800bp in April. The sale raised proceeds for improvements to the road. HSBC is sole lead on the transaction, rated AA minus on a national scale. LatAm Capital Advisors is structuring agent.