Dalton Prices MXP ABS Debut

Dalton Prices MXP ABS Debut

Mexico Bonds Structured Finance

Mexican auto leasing company Dalton Efectivo Seguro (DES) has raised MXP300m ($24m) through a domestic ABS bond sale. The debut issuer priced at TIIE+170bp, inside the targeted TIIE+175bp-195bp price range, following a 2.43x subscribed book, with demand coming from money desks, mutual funds, insurance companies, and private banking. The bonds are backed by receivables on 1,152 auto lease contracts. It features a 2.8-year average life and 4-year final maturity. Proceeds will be used for working c

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