Yields fall for toll-road ABS as Tenango-Ixtapan prints tight

Yields fall for toll-road ABS as Tenango-Ixtapan prints tight

Project & Infrastructure Finance

Mexico’s Autopista Tenango Ixtapan de la Sal sold an MXN810m ($61m) toll road securitization in UDIs on Thursday with what is thought to be a record low coupon for a deal of its type. Lead arranger BBVA Bancomer and co-arranger Banco Interacciones priced the securitization, which has an expected maturity in 2034 and a final maturity in 2043, with a 5% coupon. That equals a spread of around 280bp over Mbonos. The deal is said to have the lowest coupon for a toll road securitization sold in the pa

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