Bancomer Reopens Private Sector RMBS

Bancomer Reopens Private Sector RMBS

Structured Finance

BBVA Bancomer has sold MXP5.9bn in 2029 RMBS in Mexico’s domestic market, becoming the first non-government institution place such a transaction this year. The deal consists of three senior tranches which amortize one after the other. The bank priced a MXP562m piece at 6.14%, a MXP1.73bn tranche at 8.04% and a MXP3.62bn piece at 10.48%. The bonds are backed by 15,100 Bancomer mortgage loans. BBVA managed the transaction, rated AAA on a national scale. The transaction from a MXP20bn shelf is the

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