June 24, 2013
Mexico’s Banco Multiva plans to issue up to MXP750m ($56m) in domestic bond
Mexico’s Banco Multiva plans to issue up to MXP750m ($56m) in domestic bonds July 3, according to people familiar with the borrower's plans. Proceeds from the 3-year floater, which fall under a MXP10bn program, will be used to fund bank operations. The self-led issuance is rated A minus on a national scale. Banco Multiva focuses on commercial lending. At least 57% of the niche bank's portfolio is targeted to sub-national lending.