By Reshmi Basu
New York, Aug. 16 - GMAC Financiera SA de CV Sofol sold Ps. 248 million of certificados burstatiles (/mxA-1+/F1+(mex)) in three tranches via an auction on Wednesday.
The issuer sold Ps. 65 million of 28-day certificados bursatiles at 99.447 to yield 7.15%. Bids ranged from 7.13% to 7.25%.
The second tranche was comprised of Ps. 150 million of 84-day certificados bursatiles, which priced at par to yield 7.31%. Bids ranged from 7.30% to 7.31%.
And the third tranche included Ps. 33 million of 112-day certificados bursatiles, which priced at par to yield 7.32%. Bids ranged from 7.32% to 7.35%.
The issue number for the 28-day issue is 054 in GMAC Financiera's current certificados bursatiles program. The 84-day issue is 055 and the 112-day issue is 056.
Casa de Bolsa BBVA Bancomer SA de CV was the auction agent for the transaction.
The issuer, based in Mexico City, provides warehouse financing for Mexican mortgage lenders. The company is a wholly owned Mexican subsidiary of the U.S. residential mortgage company GMAC Residential Funding Corp., a subsidiary of GMAC Financial Services.
| Issuer: | GMAC Financiera SA de CV Sofol
|
| Issue: | Certificados bursatiles
|
| Auction date: | Aug. 16
|
| Settlement date: | Aug. 17
|
| Auction agent: | Scotia Inverlat Casa de Bolsa SA de CV
|
| Ratings: | Standard & Poor's: mxA-1+
|
| Fitch: F1+(mex)
|
|
|
| 28-day tranche
|
| Amount: | Ps. 65 million
|
| Maturity: | Sept. 14, 2006
|
| Issue price: | 99.447
|
| Discount rate: | 7.11%
|
| Yield: | 7.15%
|
|
|
| 84-day tranche
|
| Amount: | Ps. 150 million
|
| Maturity: | Nov. 9 2006
|
| Issue price: | Par
|
| Yield: | 7.31%
|
|
|
| 112-day tranche
|
| Amount: | Ps. 33 million
|
| Maturity: | Dec. 7, 2006
|
| Issue price: | Par
|
| Yield: | 7.32%
|
|
|
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