By Reshmi Basu
New York, Feb. 16 - GMAC Financiera SA de CV Sofol sold Ps. 150 million of certificados bursatiles (/mxA-1+/F1+(mex)) in two tranches via an auction on Wednesday.
The issuer sold Ps. 50 million of 28-day certificados bursatiles at 99.40733 to yield 7.67%. Bids ranged from 7.65% to 7.68%.
The planned amount size was $100 million.
The second tranche includes Ps. 100 million of 168-day certificados bursatiles, which priced at par to yield 8.01%. Bids ranged from 8% to 8.01%.
Casa de Bolsa BBVA Bancomer SA de CV was the auction agent for both transaction.
The issue number for the 28-day issue is 007 in GMAC Financiera's current certificados bursatiles program. The 168-day issue is number 008.
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
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Issue: | Certificados bursatiles
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Auction date: | Feb. 15
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Settlement date: | Feb. 16
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Auction agent: | Scotia Inverlat Casa de Bolsa SA de CV
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Ratings: | Standard & Poor's: mxA-1+
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| Fitch: F1+(mex)
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28-day tranche
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Amount: | Ps. 50 million
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Maturity: | March 16, 2006
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Issue price: | 99.40733
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Discount rate: | 7.62%
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Yield: | 7.67%
|
|
168-day tranche
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Amount: | Ps. 100 million
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Maturity: | April 27, 2006
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Issue price: | Par
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Yield: | 8.01%
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