Fovissste Raises Funds

Fovissste Raises Funds

Mexico Bonds Structured Finance

Mexican government housing lender Fovissste raised MXP6.87bn ($571m) in a domestic bond transaction that received demand of more than 2.5x. The UDI-denominated 2043 RMBS with a six-year average life pays 2.58%, or Udibonos+180bp. The bond had been expected in the 195bp-225bp range. Interest came from Afores, insurance companies, bank treasuries, mutual funds, wealth management and private bankers, according to people familiar with the deal. A lack of other offerings in Mexico and lots of market

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