Fovissste Prices RMBS

Fovissste Prices RMBS

Mexico Bonds

Mexican government housing lender Fovissste has raised MXP4.6bn ($358m) through a domestic RMBS sale, according to people familiar with the transaction. The 2039 UDI-denominated bond priced at 3.23%, or Udibonos+185bp, in line with Udibonos+170bp-190bp price talk. Demand topped 1.7x, with participation from Afores, private banking, pension funds and insurance companies. The issue comes with a 23.2% guarantee from Mexico’s Sociedad Hipotecaria Federal. Proceeds will fund Fovissste’s lending. Bano

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