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Grupo Bursátil Mexicano (GBM) is a 35-year-old investment platform in the Mexican stock market. In its first three decades of life, GBM was focused on providing investment services to high net worth individuals and local and global institutions. Over the past decade, the Mexico City-based brokerage has ramped up its digital efforts, and, in the […]
GBM sets rates for local notes
GBM sets rates for local notes Mexican investment and brokerage firm will close the order books on Thursday for $59 mln in five-year notes
Corporate & Sovereign StrategyBondsFixed IncomeDebtMexico Mexican investment and brokerage firm Grupo Bursátil Mexicano (GBM) has set the interest rate on an upcoming bond sale at 4.7915%, or 50 basis points over the TIIE interbank lending rate, according to a securities filing.
GBM said it will close the order books on Thursday for MXN1.2 billion ($59.3 million) worth of five-year bonds in the local market and added that it will make interest payments every 28 days.
GBM heads to local bond market
GBM heads to local bond market Mexican investment and brokerage firm aims to raise $60 mln to refinance debt
BondsDebtCapital MarketsFixed IncomeCorporate & Sovereign StrategyMexico Mexican investment and brokerage firm Grupo Bursátil Mexicano (GBM) plans to sell up to MXN1.2 billion ($60.1 million) worth of five-year bonds in the local market, HR Ratings said in a report on Wednesday.
HR Ratings said GBM will base the price on the 2026 notes on the TIIE interbank lending rate and use the proceeds to refinance bonds that mature this month.
The new bonds are the first notes under the five-year, MXN7.5 billion local bond program that GBM announced in November last year.