Southern Peru Copper Corporation (SPCC) is looking to mandate a $500 million securitization of export receivables, sources say.

The Grupo Mexico subsidiary is looking to fund a $1 billion modernization program and will attempt to issue the bond in the second half of the year. While no bank has gotten the official nod, rumor is that Banc of America and Citibank/Salomon Smith Barney are frontrunners for the mandate.

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