GMAC Mexicana plans to sell Ps. 275 million certificados bursatiles in three tranches on Wednesday

By Reshmi Basu

New York, Oct. 4 - GMAC Mexicana SA de CV said it plans to sell Ps. 275 million of certificados bursatiles via an auction on Wednesday

The issuer plans to sell Ps. 50 million of 10-day certificados bursatiles (MX-2//F2(mex)). The maturity date is Oct. 13, 2005.

The second tranche is Ps. 125 million of 28-day certificados bursatiles (MX-2//F2(mex)). The maturity is Nov. 3, 2005.

The third tranche is Ps. 100 million of 91-day certificados bursatile (MX-2//F2(mex)). The maturity date is Jan. 5, 2006.

ING (Mexico), SA de CV is the auction agent for all three transactions.

The settlement date is Thursday. The 10-day certificates are 101 in GMAC Mexico's current certificados bursatiles program, the 28-day certificates are issue number 102 and the 91-day certificates are issue 103.

The issuer, based in Mexico City, is the financial arm for GMAC in Mexico.

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