The Mexican city of Zapopan priced a Ps147 million (US $14.7 million) bond at a floating 90 basis points over 182-day Cetes, the government's benchmark Treasurys. The yield jibed with official price talk and matched results for a Ps168 million (US$16.8 million) bond that municipal cohort Monterrey issued the week before (See ASR 9/9, p 26).
Acciones y Valore de Mexico (Accival) handled both deals. "We did heavy marketing with (Zapapon's) placement," said Rodrigo Barrera, a senior associate at Accival. That helped generate a bid-to-offer of around 1.5x. Wealthy individuals bought about 93% of the deal and pension funds took the rest.