MEXICO CITY, Nov 10 (Reuters) - Grupo Mexico is expected to launch a $1.5 billion facility in two tranches soon as it prepares to take control of bankrupt U.S. copper miner Asarco, IFR, a Thomson Reuters company, said on Tuesday.

The facility "is expected to be launched into retail syndication over the next couple of days," IFR said.

Grupo Mexico (GMEXICOB.MX: Quote, Profile, Research) seeks to place a 3-year tranche at Libor+375 and another 5-year tranche at Libor+425bp. (Reporting by Paul Kilby; Editing by Andrew Hay)