September 10, 2013
Mexican government housing lender Fovissste plans to raise up to MXP5.5bn (
Mexican government housing lender Fovissste plans to raise up to MXP5.5bn ($419m) through a domestic RMBS sale in October, according to a regulatory filing. The planned 25.9-year fixed-rate bond is denominated in UDIs. Proceeds will fund lending. Banorte-Ixe, CI Casa de Bolsa and Actinver are managing the sale, rated AAA on a national scale. Fovissste last visited the local market in May, raising MXP6.87bn in a UDI-denominated 2043 issue which was priced at 2.58%, or Udibonos+180bp.