GMAC Financiera to sell Ps. 470 million of certificados bursatiles in three tranches

By Reshmi Basu

New York, Oct. 3 - GMAC Financiera SA de CV Sofol plans to sell a total of Ps. 470 million of certificados bursatiles (/mxA-1+/F1+(mex)) in three tranches via an auction on Wednesday.

The issuer plans to sell Ps. 270 million of 28-day certificados bursatiles. The maturity date is Nov. 1, 2006.

The second tranche is Ps. 100 million of 112-day certificados bursatiles. The maturity date is Jan. 25, 2007.

And the third tranche includes Ps. 100 million of 168-day certificados bursatiles. The maturity date is scheduled for March 22, 2007.

Casa de Bolsa BBVA Bancomer SA de CV is the auction agent for all three transactions.

The issue number for the 28-day issue is 075 in GMAC Financiera's current certificados bursatiles program. The issue number for the 112-day issue is 076 and the 168-day issue is 077.

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.

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