Infonavit Sets RMBS Sale Date

Infonavit Sets RMBS Sale Date

Structured Finance

Mexican mortgage lender Infonavit plans to sell MXP3.53bn in 2030 RMBS as soon as Wednesday, August 27. The issue denominated in the UDI inflation-linked unit will be divided into a MXP1.67bn first tranche and a MXP1.86bn second tranche that amortizes after the first but is not subordinate. The bonds are backed by a pool of 24,000 mortgages. The sale, rated AAA on a national scale, is the third from a MXP15bn shelf. Banamex and Deutsche Bank are managing the transaction, with HSBC as co-manager.

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