September 5, 2008
HSBC has sold MXP1.49bn in a 2-tranche 2028 RMBS. A MXP600m tranche priced
HSBC has sold MXP1.49bn in a 2-tranche 2028 RMBS. A MXP600m tranche priced at 9.99%, and a MXP899m piece amortizing after the first priced at 10.16%. The AAA rated offering – a third from the bank’s MXP10bn program – was scaled down from a planned MXP1.93bn. HSBC managed the sale, which had been pushed back from August amid a difficult RMBS market in Mexico. Investors are also awaiting a MXP2.3bn issue from lender Metrofinanciera.