Fovissste Returns to Local RMBS

Fovissste Returns to Local RMBS

Structured Finance

Mexico’s Fovissste is planning to do a MXP4.5bn local UDI-denominated RMBS issue, according to a regulatory filing. It would be the government-owned lender’s third RMBS deal of the year. The proceeds from the UDI-denominated 2040 bonds will be used to make new loans. Banorte, Ixe and Bank of America Merrill Lynch are managing the sale, with Goldman Sachs as structuring agent. The bonds will be rated AAA on a national scale. Fovissste last came to the domestic market at the beginning of

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