Broxel joins bond queue in Mexico

Broxel joins bond queue in Mexico

Credit Ratings Bonds Debt Funds Mexico Capital Markets Asset Management Project & Infrastructure Finance Structured Finance

Mexican financial technology firm Servicios Broxel plans to issue MXN800 million ($38.4 million) in bonds in the local market, joining a queue with the local division of Spanish bank Santander and steel and aluminum products producer Grupo Vasconia. Broxel intends to price the four-year bonds with a spread based on the TIIE interbank lending rate and use the proceeds for general corporate purposes, HR Ratings said in a report. Monex will lead the deal as part of an MXN2 billion bond program, HR

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