Herradura Occidente sells securitization

Herradura Occidente sells securitization

Structured Finance

Mexican bus company Grupo Herradura Occidente (GHO) has sold a MXN1.425bn securitization ($108m) at 9.46%, or 410bp over Mbonos. The 15-year amortizing deal is backed by GHO's transport assets, which include nearly 700 buses, and future ticket sale revenues. Pension funds, insurance companies, independent asset managers, trading desks, and some private banks came in on the deal. BBVA, Finamex, HSBC and Santander led the transaction, rated AA- by S&P and AA+ by HR on a local scale. GHO is part of

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