GMAC Financiera to sell Ps. 400 million of certificados bursatiles in five tranches

By Reshmi Basu

New York, Oct. 24 - GMAC Financiera SA de CV Sofol plans to sell a total of Ps. 400 million of certificados bursatiles (/mxA-1+/F1+(mex)) in five tranches via an auction on Wednesday.

The issuer plans to sell Ps. 50 million of six-day certificados bursatiles. The maturity date is Nov. 1, 2006.

The second tranche is Ps. 50 million of 28-day certificados bursatiles. The maturity date is Nov. 23, 2006.

The third tranche is made up of Ps. 100 million of 56-day certificados bursatiles. The maturity date is scheduled for Dec. 21, 2006.

The fourth tranche includes Ps. 125 million of 84-day certificados bursatiles. The maturity date is Jan. 18, 2007.

And the fifth tranche is comprised of Ps. 75 million of 112-day certificados bursatiles, which are set to mature on Feb. 15, 2007.

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

The issue number for the six-day issue is 083 in GMAC Financiera's current certificados bursatiles program. The issue number for the 28-day issue is 084, the 56-day issue is 085, the 84-day issue is 086 and the 112-day issue is 087.

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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