Infonavit Nudges Open Mexican RMBS

Infonavit Nudges Open Mexican RMBS

Structured Finance

Mexican mortgage lender Infonavit has priced a MXP2.02bn 22-year RMBS, the first mortgage-backed bond in Mexico since December. The UDI-denominated notes with an average life of 5.1 years priced at a fixed rate of 5.65%, or UDIbonos plus 228bp. Demand reached about 1.8x, according to bankers managing the sale. The AAA rated transaction is playing it safe with a single tranche, departing from a recent trend in Mexican RMBS for sales offering twin tranches amortizing one after the other. Banamex,

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