Tlalnepantla issues US$9mn bond certificate for drinking water plant

The municipality of Tlalnepantla in Mexico state has released (June 30) a bond issue certificate on the Mexican stock exchange (BMV) for some 96mn pesos (US$9.1mn) for construction of a drinking water treatment plant, La Reforma reported. The bond, which carries a 5.5% interest rate, was issued by Santander Bank and has received a "AAA" rating from the Standard & Poor international rating agency and a "Aaa" from rating agency Moody's. Local water utility Organismo de Agua del Muncipio will head up works on the 200 l/s plant. The city will launch an international bidding process in the next two months. Works are slated to begin in one year. Tlalnepantla, on Mexico City's western fringes, has some 734,000 residents.