Metrofinanciera Tees Up RMBS Against Odds

Metrofinanciera Tees Up RMBS Against Odds

Structured Finance

Mexico’s Metrofinanciera is planning to issue MBS worth approximately MXP2.3bn, despite choppy markets, competing large issues and financial troubles that drag its rating ever closer to implied high default probability levels. Metrofinanciera has filed to issue MXP1.6bn equivalent in 2033 notes denominated in the UDI inflation-linked unit and MXP769m in MXP-denominated 2038 notes. Each will be further divided into two pieces which amortize one after the other. The transaction backed by a pool of

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