Edomex Unleashes Long-Awaited ABS

Edomex Unleashes Long-Awaited ABS

Mexico Structured Finance

State of Mexico (Edomex) is targeting the first week of June for a novel MXP4.3bn 20-year deal securitizing future flows of income from residential property title fees, according to a banker running it. Market participants hope the long-awaited trade can reinvigorate a peso structured debt market that has been moribund beyond a handful of government agency RMBS. If successful, Edomex would mark the first sizeable non-residential mortgage ABS in Mexico since the federal government raised MXP32bn

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