Daimler Mexico , the treasury and tax services entity of the Daimler Truck Mexico group , successfully concluded a corporate bond issue on the Mexican Stock Exchange (BMV) for three billion pesos (mdp) , an oversubscription of 2.02 times the initial objective.
The issue was initially targeted at two billion pesos; however, due to market appetite, it reached four billion pesos and improved the instrument’s financial conditions, adjusting the spread ( the difference between the purchase price and the sale price ) from 95 to 88 basis points.
The issue, under the ticker symbol Daimler 25 , received an AAA rating from credit rating agencies Moody’s and S&P , backed by an irrevocable and unconditional guarantee from Daimler Truck Holding AG . This issue was structured with a floating rate with a two-year maturity and was placed by the financial institutions Scotiabank , BBVA and Santander .
“This issuance represents a firm step in our strategy of financial consolidation and sustainable growth in Mexico. The market’s support confirms the confidence in Daimler Truck Mexico and our long-term vision to continue driving the transformation of transportation in the country,” said Marcela Barreiro, CEO of Daimler Truck Mexico.
For her part, María José Bonivento, Head of Treasury for Daimler Truck México, emphasized that the success was due to the collaboration between Daimler México and its business units, such as Freightliner , Mercedes-Benz Autobuses , and Daimler Truck Financial Services , which reinforced investor confidence.
Holger Dürrfeld, CEO of Mercedes-Benz Buses, stated that the “issuance represents the trust, commitment, and strategic vision demonstrated by our company.” David Velázquez, CEO of Daimler Truck Financial Services, affirmed that this transaction confirms the company’s “capacity to offer comprehensive financial solutions that drive the development of transportation in Mexico.”
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