Frisa prices local CMBS trade

Frisa prices local CMBS trade

Mexico Bonds Structured Finance

Grupo Frisa priced a 15-year MXN1bn ($53.5m) commercial mortgage-backed security (CMBS) at 280bp over Mbono, LatinFinance understands. Actinver and Banorte-IXE priced the paper against a 9.87% fixed coupon and took orders from local pension funds, or afores, along with banks, insurance companies and private pension funds, a local banker said. The notes come backed by a number of lease contracts from Frisa’s commercial properties, he added. Fitch and HR Ratings both rated the issue AAA on a local

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