Several units of Mexican cement maker Cemex recently closed a 4.2-year, Ps2.5 billion ($204 million) facility backed by their trade receivables, according to a release by Finacity Corp., which arranged the deal. Ixe Casa de Bolsa was the sole underwriter. Both HR Ratings and Standard & Poor’s rated the deal triple-A on their respective national scales.
More From Asset Securitization Report
Group Zapata Closes Trade Receivable ABS
Mexico’s Group Zapata, under its holding company Taenza, recently closed a Ps300 million ($22.9 million), two-year securitization of trade receivables. Collateral consists of peso and dollar receivables from five of Zapata’s customers. HR Rating and Standard & Poor’s rated the deal triple-A on their respective national scales. Barclays Capital and IXE were the bookrunners while […]
Mexico’s New Dream Equity Product Has ABS Accent
A new financing vehicle is poised to take off in Mexico, and it has structured finance players scrambling to make deals. What’s interesting is that, at its core, it’s an equity product. Boosters of capital development certificates (CCDs), as they are known, see them as an unprecedented opportunity to invest in infrastructure and other sectors […]
Mexico: Ready to Give ABS a Fresh Look?
Following a spring that was on life support, Mexico’s structured finance market sprang to life in late June and into July. A clutch of significant deals closed and more entered the pipeline. But it was unclear: is the country’s ABS market on a firm rebound or is this just another summer fling? The tone right […]
Veracruz pulls retail buyers into $468m-equivalent deal
With no sign that generous volumes and compressed yields are easing up in Mexico’s domestic market, institutional investors seem to have a nearly boundless appetite for structured product. And now the market’s little guys are joining the feast. A good 20% of a bulging deal from the Mexican state of Veracruz landed in the hands […]
UBS & BBVA said to be nearing registration with Infonavit MBS
Mexican housing agency Infonavit is understood to be on the verge of registering an MBS transaction put together by UBS Warburg and BBVA Bancomer, with Deutsche Bank Securities as co-lead, according to sources. The deal is heard at Ps1 billion (US$90 million), a drop from the figures bandied about when talk of this RMBS broke […]