Banca Mifel Gets Tier 2

May 11, 2012

Banca Mifel emerged Thursday to price a $150m Tier-2 subordinated 10-year bond, after seeing $215m in demand. The Mexican commercial bank priced at 98.442, with a 9.75% coupon, to yield 10%, pricing in line with 10%-area guidance. With the funds, Mifel plans to repurchase its...

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

Jan Dehn, Ashmore Investment Management