June 5, 2014
Mexico's Nacional Financiera (Nafinsa) reopened a 10-year fixed rate bond and also priced a new three-year floating rate note on Wednesday. The three year was in particularly strong demand, drawing a book that was close to six-times subscribed. Nafinsa, rated triple-A on a local scale by Standard & Poor’s and HR, sold the MXN2bn ($155m) 2017 at 5bp below the TIIE. Meanwhile, the borrower added MXN4bn to the 2024. The tap was nearly twice subscribed, and was priced at 6.41%, or 45bp over Mbonos.
Mexico’s Nafinsa reopens 10-year and prices three-year