By Reshmi Basu
New York, Dec. 13 - GMAC Financiera SA de CV Sofol sold Ps. 173.685 million of certificados bursatiles (/mxA-1+/F1+(mex)) in two tranches via an auction on Wednesday.
The issuer sold Ps. 131.25 million of 28-day certificados bursatiles at 99.445444 to yield 7.17%. Bids ranged from 7.16% to 7.20%.
The second tranche was comprised of Ps. 42.435 million of 84-day certificados bursatiles, which priced at par to yield 7.35%. Bids ranged from 7.34% to 7.38%.
The issue number for the 35-day issue is 099 in GMAC Financiera's current certificados bursatiles program. The 84-day issue is 100.
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
|
| Total amount: | Ps. 173.685 million
|
| Issue: | Certificados bursatiles
|
| Auction date: | Dec. 13
|
| Settlement date: | Dec. 14
|
| Auction agent: | Scotia Inverlat Casa de Bolsa SA de CV
|
| Ratings: | Standard & Poor's: mxA-1+
|
| Fitch: F1+(mex)
|
| 28-day tranche
|
| Amount: | Ps. 131.25 million
|
| Maturity: | Jan. 11, 2007
|
| Issue price: | 99.445444
|
| Discount rate: | 7.13%
|
| Yield: | 7.17%
|
|
|
| 84-day tranche
|
| Amount: | Ps. 42.435 million
|
| Maturity: | March 8, 2007
|
| Issue price: | Par
|
| Yield: | 7.35%
|
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