GMAC's Financiera plans to sell Ps. 100 million of seven-day certificados bursatiles

By Reshmi Basu

New York, June 27 - GMAC Financiera SA de CV Sofol said it plans to sell Ps. 100 million of seven-day certificados bursatiles (/mxA-1+/F1+(mex)) on Wednesday via an auction.

The maturity date will be July 6, 2006.

Meanwhile, the settlement date is Thursday.

Scotia Inverlat Casa de Bolsa SA de CV is the auction agent for the transaction.

The issue number for the issue is 039 in GMAC Financiera's current certificados bursatiles program.

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.

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