Bancomer Brings Back Local Bank RMBS

Bancomer Brings Back Local Bank RMBS

Mexico Bonds Structured Finance

BBVA Bancomer has raised MXP4.2bn ($320m) in the Mexican domestic market’s first bank RMBS deal since 2009. The sale marks a return of the asset class that had been cut off following the crisis, leaving the mortgage securitization market to government-backed Fovissste and Infonavit. “Investors are demonstrating more appetite and necessity for diversification in transaction types from quality issuers, as they have been too concentrated in government paper,” says a Mexico-City based analyst follow

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