By Reshmi Basu
New York, Feb. 9 - GMAC Financiera SA de CV Sofol sold Ps. 250 million of certificados bursatiles (/mxA-1+/F1+(mex)) in two tranches via an auction on Wednesday.
The issuer sold Ps. 100 million of 28-day certificados bursatiles at 99.401111 to yield 7.75%. Bids ranged from 7.72% to 7.76%.
The second tranche includes Ps. 150 million of 84-day certificados bursatiles, which priced at par to yield 8.11%. Bids ranged from 8.10% to 8.12%.
Casa de Bolsa BBVA Bancomer SA de CV was the auction agent for both transactions.
The issue number for the 28-day issue is 005 in GMAC Financiera's current certificados bursatiles program. The 84-day issue is number 006.
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., which itself is a subsidiary of GMAC Financial Services.
| Issuer: | GMAC Financiera SA de CV Sofol
|
| Issue: | Certificados bursatiles
|
| Auction date: | Feb. 8
|
| Settlement date: | Feb. 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. 100 million
|
| Maturity: | March 9, 2006
|
| Issue price: | 99.401111
|
| Discount rate: | 7.70%
|
| Yield: | 7.75%
|
|
|
| 84-day tranche
|
| Amount: | Ps. 150 million
|
| Maturity: | May 4, 2006
|
| Issue price: | Par
|
| Yield: | 8.11%
|
|
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