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GMAC Mexicana plans to sell Ps. 650 million certificados bursatiles in four tranches Wednesday
By Reshmi Basu
New York, Oct. 18 - GMAC Mexicana SA de CV said it plans to sell Ps. 650 million certificados bursatiles in four tranches via an auction on Wednesday.
The issuer plans to sell Ps. 150 million 28-day certificados bursatiles (MX-1// F1(mex). The maturity is Nov. 17, 2005.
The second tranche is Ps. 200 million of 56-day certificados bursatiles (MX-1//F1(mex). The maturity date is Dec. 15, 2005.
The third tranche is Ps. 150 million of 84-day certificados bursatiles (MX-1/mxA-1+/F1(mex). The maturity date is Jan. 12, 2006.
The fourth tranche includes Ps. 150 million of 168-day certificados bursatiles (MX-1/mxA-1+/F1(mex). The maturity date is April 6, 2006.
The settlement date is Thursday. Scotia Inverlat Casa de Bolsa SA de CV is the auction agent for all four transactions.
The 28-day certificates are 033 in GMAC Mexico's current certificados bursatiles program, the 56-day certificates are issue 034, the 84-day certificates are 035 and the 168-day certificates are 036.
The issuer, based in Mexico City, is the financial arm for GMAC.
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