GMAC Financiera plans to sell Ps. 50 million of 168-day certificados bursatiles

By Reshmi Basu

New York, July 11 - GMAC Financiera SA de CV Sofol said it plans to sell Ps. 50 million of 168-day certificados bursatiles (/mxA-1+/F1+(mex)) on Wednesday via an auction.

The maturity date is scheduled for Dec. 28, 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 045 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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