By Reshmi Basu
New York, July 19 - GMAC Financiera SA de CV Sofol sold Ps. 190 million of certificados bursatiles (/mxA-1+/F1+(mex)) in three tranches via an auction on Wednesday.
The issuer sold Ps. 30 million of 28-day certificados bursatiles at 99.4467 to yield 7.15%. Bids ranged from 7.14% to 7.16%.
The second tranche was comprised of Ps. 60 million of 56-day certificados bursatiles, which priced at par to yield 7.33%. Maximum and minimum bids were 7.33%.
And the third tranche included Ps. 100 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 28-day issue is 043 in GMAC Financiera's current certificados bursatiles program. The 56-day issue is 044 and the 84-day issue is 045.
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., which itself is a subsidiary of GMAC Financial Services.
| Issuer: | GMAC Financiera SA de CV Sofol
|
| Issue: | Certificados bursatiles
|
| Auction date: | July 19
|
| Settlement date: | July 20
|
| Auction agent: | Scotia Inverlat Casa de Bolsa SA de CV
|
| Ratings: | Standard & Poor's: mxA-1+
|
| Fitch: F1+(mex)
|
|
|
| 28-day tranche
|
| Amount: | Ps. 30 million
|
| Maturity: | Aug. 15, 2006
|
| Issue price: | 99.4467
|
| Discount rate: | 7.11%
|
| Yield: | 7.15%
|
|
|
| 56-day tranche
|
| Amount: | Ps. 60 million
|
| Maturity: | Sept. 14, 2006
|
| Issue price: | Par
|
| Yield: | 7.33%
|
|
|
| 84-day tranche
|
| Amount: | Ps. 100 million
|
| Maturity: | Oct. 12, 2006
|
| Issue price: | Par
|
| Yield: | 7.35%
|
|
|
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