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GMAC Financiera to sell Ps. 200 million of certificados bursatiles in three tranches
By Reshmi Basu
New York, Oct. 10 - GMAC Financiera SA de CV Sofol plans to sell a total of Ps. 200 million of certificados bursatiles (/mxA-1+/F1+(mex)) in three tranches via an auction on Wednesday.
The issuer plans to sell Ps. 50 million of 28-day certificados bursatiles. The maturity date is Nov. 9, 2006.
The second tranche is Ps. 75 million of 56-day certificados bursatiles. The maturity date is Dec. 7, 2006.
The third tranche is Ps. 75 million of 112-day certificados bursatiles. The maturity date is Feb. 1, 2007.
Scotia Inverlat Casa de Bolsa SA de CV is the auction agent for all three transactions.
The issue number for the 28-day issue is 078 in GMAC Financiera's current certificados bursatiles program. The issue number for the 56-day issue is 079 and the 112-day issue is 080.
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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