GMAC Financiera to auction Ps. 450 million of certificados bursatiles Wednesday

By Reshmi Basu

New York, Sept. 20 - GMAC Financiera SA de CV Sofol said it plans to sell Ps. 450 million of short-term certificados bursatiles in two tranches Wednesday.

The first issue will include Ps. 250 million of certificados bursatiles with a tenor of 28 days and a maturity date of Oct. 20.

The second issue is comprised of Ps. 200 million of certificados bursatiles with a tenor of 84 days and a maturity date of Dec. 15.

General Motors Acceptance Corp. will guarantee both issues.

Scotia Inverlat Casa de Bolsa SA de CV is the auction agent for the transaction.

Settlement is scheduled for Sept. 22.

The issue number for the 28-day issue is 030 in GMAC Financiera's certificados bursatiles program. The number for the 84-day issue is 031.

The issuer, based in Mexico City, is the financial arm for GMAC in Mexico.

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