Infonavit Shrinks MXP Issuance

Infonavit Shrinks MXP Issuance

Mexico Bonds Structured Finance

Mexico’s Infonavit, which is issuing an RMBS in the Mexican domestic market on June 1, has changed the amount it is planning to sell, according to a banker on the deal. It plans sell around MXP4bn ($343m) in UDI-denominated 2039 RMBS, down from MXP4.58bn ($393m) equivalent. The government-run mortgage lender reduced the size because not all of the mortgages in its portfolio are eligible for securitization, according to the banker. Proceeds from the sale will be used to create new mortgages.

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