Kimberly Clark de Mexico tightens on tough day

Kimberly Clark, Mexico, bog roll, New York, shortage, LatAm, 575
By Oliver West
25 Jun 2020

DCM bankers said that Mexican personal care products maker Kimberly Clark de México (KCM) was from the ideal sector for this market after it tightened pricing on a new issue sharply despite a difficult day in global markets.

Leads Citi and JP Morgan set initial price thoughts at low to mid 200bp over US Treasuries on Wednesday morning for KCM’s proposed BBB+/A rated 10-year benchmark. The leads had hosted investor calls with the company since Monday.

After setting guidance at 180bp plus or minus 5bp, ...

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