Banca Mifel Gets Tier 2

Banca Mifel Gets Tier 2

Mexico Bonds Structured Finance

Banca Mifel emerged Thursday to price a $150m Tier-2 subordinated 10-year bond, after seeing $215m in demand. The Mexican commercial bank priced at 98.442, with a 9.75% coupon, to yield 10%, pricing in line with 10%-area guidance. With the funds, Mifel plans to repurchase its outstanding $100m 11% perpetual bonds, callable in July. Demand was heard coming from existing perpetual bond holders, along with a mix of private banking and institutional accounts. Though difficult to comp, investors were

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