A toll road deal tooled into Mexico's domestic market last week. Placement agent Interacciones led a transaction totaling 195 million inflation-indexed units ($65 million) for the stretch of highway linking the cities of Tenango and Ixtapan de la Sal in the state of Mexico. With a 17-year final maturity, the deal priced at 6.75%. Grupo Tribasa, a giant of the transportation sector, operates the toll road. Fitch Ratings rated the deal AA+(mex) on the national scale. The deal closed last Tuesday.
The Tenango-Ixtapan highway pulled in Ps80 million in toll road revenue in 2004. Flows for the first half of this year totaled nearly Ps50 million.