HSBC Preps MXP2bn Mexican RMBS

HSBC Preps MXP2bn Mexican RMBS

Structured Finance

HSBC plans to sell MXP1.93bn in a 2028 RMBS as soon as Friday, according to regulatory documents. The offering rated AAA on a national scale features a MXP969m tranche and MXP964m piece that amortizes after the first, but is not subordinated. The fixed rated will be determined though a bookbuilding process ending Friday. The bonds are backed by a pool of 2,589 of HSBC mortgage loans, reduced slightly from an original 2,785. HSBC is managing the transaction. The issue is the third from a MXP10bn

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