Crediamigo meets investors for ABS

Crediamigo meets investors for ABS

Structured Finance

Mexican payroll lender Crediamigo is planning to issue a securitization in Mexico’s local market the week of February 10, LatinFinance understands. The lender to government employees is heard to be planning a 5-year ABS of between MXN500m ($37m) and MXN800m. The borrower began meetings last year, and resumed them this week, says a person familiar with the company’s plans. Crediamigo has MXN258m of debt amortizing this year. It has cut its average cost of funds in recent years, from more than 17%

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