By Reshmi Basu
New York, Nov. 8 - GMAC Financiera SA de CV Sofol sold Ps. 91.694 million of certificados burstatiles (/mxA-1+/F1+(mex)) in three tranches via an auction on Wednesday.
The issuer sold Ps. 44.5 million of 28-day certificados bursatiles at 99.448556 to yield 7.13%. Bids ranged from 7.10% to 7.16%.
The second tranche was comprised of Ps. 3.5 million of 56-day certificados bursatiles, which priced at par to yield 7.32%. Bids ranged from 7.32% to 7.33%.
And the third tranche included Ps. 43.694 million of 84-day certificados bursatiles, which priced at par to yield 7.34%. Bids ranged from 7.33% to 7.37%.
The issue number for the 28-day issue is 084 in GMAC Financiera's current certificados bursatiles program. The 56-day issue is 085 and the 84-day issue is 086.
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
|
Auction date: | Nov. 8
|
Settlement date: | Nov. 9
|
Auction agent: | Scotia Inverlat Casa de Bolsa SA de CV
|
Ratings: | Standard & Poor's: mxA-1+
|
| Fitch: F1+(mex)
|
28-day tranche
|
Amount: | Ps. 44.5 million
|
Maturity: | Dec.7, 2006
|
Issue price: | 99.448556
|
Discount rate: | 7.09%
|
Yield: | 7.13
|
|
56-day tranche
|
Amount: | Ps. 3.5 million
|
Maturity: | Jan. 4, 2007
|
Issue price: | Par
|
Yield: | 7.32%
|
|
84-day tranche
|
Amount: | Ps. 43.694 million
|
Maturity: | Feb. 1, 2007
|
Issue price: | Par
|
Yield: | 7.34%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.