New York, Nov. 22 - Ford Credit de Mexico SA de CV Sofol sold a downsized Ps. 124 million in two tranches of certificados bursatiles (MX-1/mxA-1/F1+mex)) via an auction on Tuesday.
The company issued Ps. 45.757 million 56-day certificados bursatiles at par to yield 9.20%. Bids ranged from 9.17% to 9.23%.
The second tranche is Ps. 78.704 million 112-day certificados bursatiles, which priced at par to yield 9.38%. Bids ranged from 9.30% to 9.52%.
Scotia Inverlat Casa de Bolsa SA de CV was the auction agent for both transactions.
Ford Credit de Mexico had been offering to sell up to Ps. 500 million of certificados bursatiles, Ps. 250 million in each tranche.
Settlement is scheduled for Thursday. Ford Motor Credit Co. will guarantee the issue.
The 56-day certificate is 026 in Ford Credit's current certificados bursatiles program, and the 84-day certificate is 027.
The issuer, based in Mexico City, is a financial unit of Ford Motor Co.
| Issuer: | Ford Credit de Mexico SA de CV Sofol
|
| Issue: | Certificados bursatiles
|
| Auction date: | Nov. 22
|
| Settlement date: | Nov. 23
|
| Auction agent: | Scotia Inverlat Casa de Bolsa SA de CV
|
| Ratings: | Moody's: MX-1
|
| Standard & Poor's: mxA-1
|
| Fitch: F1+(mex)
|
|
|
| 56-day tranche
|
| Amount: | Ps. 45.757 million
|
| Maturity: | Jan. 18, 2006
|
| Issue price: | Par
|
| Yield: | 9.20%
|
|
|
| 112-day tranche
|
| Amount: | Ps. 78.704 million
|
| Maturity: | March 15, 2006
|
| Issue price: | Par
|
| Yield: | 9.38%
|
|
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