April 11, 2013
Mexico’s Instituto Fonacot has sold MXP1.95bn ($161m) in the domestic bond
Mexico’s Instituto Fonacot has sold MXP1.95bn ($161m) in the domestic bond market. The Mexican state-run lender’s 2016 pays the TIIE+20bp, tight to analyst expectations of 28bp prior to the sale. The issuer decided against a previously considered 10-year tranche. Banorte-Ixe and HSBC managed the transaction, rated AAA on a national scale. In its previous deal in September 2012, Infonacot reopened its 2014 domestic bonds for MXP1.15bn to yield TIIE+38bp.