October 24, 2012
Mexican government housing lender Fovissste plans to raise up to MXP5bn ($3
Mexican government housing lender Fovissste plans to raise up to MXP5bn ($385m) through a domestic RMBS sale, and is targeting a October 30 pricing, according to bankers familiar with the sale. The 30-year bond would be denominated in UDIs and pay a fixed rate. BBVA Bancomer, Banorte-IXE and Santander are managing the sale, rated AAA on a national scale. The government-backed lender last visited the market in August, raising MXP4.8bn in 2042 notes paying 3.85%.