Infonavit RMBS Arrives Tight to Expectations

Infonavit RMBS Arrives Tight to Expectations

Mexico Bonds Structured Finance

Mexican lender Infonavit has sold MXP3.01bn ($243m) in domestic RMBS, pricing the 2041 bonds tight to expectations. In its first such transaction in seven months, it priced at 3.30%, or UDIbonos+196bp, versus an expected 210bp-220bp range. The book was 6.8x oversubscribed, with Afores, pension funds, private banks, treasuries among participating investors. The transaction represents the lowest coupon ever for the Mexican government mortgage and social services entity, with people following the d

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