Investors Jump into Infonavit Mortgage Pool

Investors Jump into Infonavit Mortgage Pool

Bonds Structured Finance

Infonavit’s MXP3.85bn ($330m) RMBS was almost two times oversubscribed, after the Mexican government-run lender shrank its proposed issuance. The 2039 bond priced with a 4.75% coupon, to yield Udibonos+216bp, inside of 220bp guidance, according to a banker on the deal. “This is a strong name that we like to include in our portfolio, as it a government-run company, and the spread is still attractive,” says one Mexico City-based investor. “The mortgages included have a low defa

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