By Reshmi Basu
New York, Jan. 24 - GMAC Financiera SA de CV Sofol sold Ps. 124.06 million of certificados bursatiles (/mxA-1+/F1+(mex)) in three tranches via an auction on Wednesday.
The issuer sold Ps. 53 million of 28-day certificados bursatiles at 99.45244 to yield 7.08%. Bids ranged from 7.07% to 7.17%.
The second tranche is made up of Ps. 63.86 million of 84-day certificados bursatiles, which priced at par to yield 7.49%. Bids ranged from 7.46% to 7.51%.
And the third tranche is comprised of Ps. 7.2 million of 168-day certificados bursatiles, which priced at par to yield 7.53%. Minimum and maximum bids were 7.53%.
The issue number for the 28-day issue is 106 in GMAC Financiera's current certificados bursatiles program. The 84-day issue is 107, and the 168-day issue is 108.
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
|
| Total amount: | Ps. 124.06 million
|
| Auction date: | Jan. 24
|
| Settlement date: | Jan. 25
|
| Auction agent: | Casa de Bolsa BBVA Bancomer SA de CV
|
| Ratings: | Standard & Poor's: mxA-1+
|
| Fitch: F1+(mex)
|
|
|
| 28-day tranche
|
| Amount: | Ps. 53 million
|
| Maturity: | Feb. 22, 2007
|
| Issue price: | 99.45244
|
| Discount rate: | 7.04%
|
| Yield: | 7.08%
|
|
|
| 84-day tranche
|
| Amount: | Ps. 63.86 million
|
| Maturity: | April 19, 2007
|
| Issue price: | Par
|
| Yield: | 7.49%
|
|
|
| 168-day tranche
|
| Amount: | Ps. 7.2 million
|
| Maturity: | July 12, 2007
|
| Issue price: | Par
|
| Yield: | 7.53%
|
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