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VW, Fortaleza sell bonds in Mexico

VW, Fortaleza sell bonds in Mexico

May 23, 2022 | Rodrigo Alonso Cruz
German carmaker's leasing division and Grupo Carso's cement company each issue $101 mln in peso-denominated bonds

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Volkswagen's leasing division in Mexico and cement maker Fortaleza Materiales each issued MXN2 billion ($101 million) in bonds in the local market, according to securities filings. Volkswagen Leasing, a subsidiary of Volkswagen Financial Services, said it priced three-year bonds at 7.54%, while Fortaleza said it printed 2.5-year notes at 8.87%. Moody's assigned VW's bonds a ​​Aaa.mx and S&P Global Ratings gave them a mxAAA rating. HSBC, Santander and Scotiabank coordinated the deal, VW said

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