Mexican RMBS at the Ready

Mexican RMBS at the Ready

Structured Finance

Despite bleak prospects for the rest of 2008 and early 2009, Mexican issuers of RMBS are busy making plans in case the market revives. BBVA Bancomer, which placed a record MXP4.829bn equivalent in UDI-denominated 2033 RMBS in August, has filed for an offering of up to MXP6.4bn in 2029 peso-denominated notes. The paperwork, however, serves to have a deal at the ready if comparable Mbono spreads – some 150bp higher than August – return to levels appropriate for placing a transaction, accor

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