FEMSA Issues CHF $300M Senior Unsecured Bonds with BBB+ Rating
What happened
FEMSA announced the successful placement of a CHF 300 million issuance of 5-year senior unsecured bonds in the Swiss bond market. The issuance received credit ratings of BBB+ from S&P Global Ratings and A from Fitch Ratings. The bonds carry an annual interest rate of 107 basis points over the relevant benchmark rate, equating to a yield of 1.73%.
From manilatimes.net
Why it matters
The proceeds from this issuance are designated for general corporate purposes. The successful bond placement is expected to improve FEMSA's cost of debt and increase its financial flexibility under favorable market conditions.
From manilatimes.net
Who's involved
- S&P Global RatingsCredit rating agency that evaluated the bond issuance.
- FEMSAMexican multinational beverage and retail company that issued the bonds.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- FEMSASpeculative
FEMSA could benefit from improved capital access and a lower cost of debt through the successful issuance.
Keep exploring
The entities involved
-
S&P Global Ratings
credit rating agency, subsidiary of S&P Global
-
FEMSA
Mexican multinational beverage and retail company
Nothing else this week.
Related events
- S&P Global Ratings will assign a credit rating to bonds, with Bank of New Zealand serving as a Joint Lead Manager for the offer.
- S&P Global Ratings and Moody's Ratings assess the financial health and debt plans of Mariner Wealth Advisors.
- Kiwi Property Group utilized NZ debt capital markets, with S&P Global Ratings assigning a credit rating and Bank of New Zealand acting as Joint Lead Manager.