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Fovissste Lands Mega RMBS

Jun 26, 2009

Mexican mortgage lender Fovissste has sold MXP3.5bn in 2039 UDI-denominated RMBS, its first ever use of the structure. In a single tranche, the government-backed lender priced the bonds at a fixed 5.31%, or UDIbonos plus 225bp. The AAA deal saw about 33% oversubscription,...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management