BBVA Places Record Mexican RMBS

BBVA Places Record Mexican RMBS

Structured Finance

Despite rotten market conditions, BBVA Bancomer has placed MXP4.829bn equivalent in UDI-denominated 2033 RMBS, the largest MBS sale to date from Mexico. Although liquidity remains ample among Mexico’s institutional investors, widening spreads and general volatility have scared RMBS issuers into waiting or downsizing. “It’s been a challenging year, but Bancomer is one of the strongest banks in Mexico, and the collateral backing this issue has a strong payment record,” says Moody’s’ Carlos Benavid

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