December 21, 2012
In what is likely the final Mexican domestic bond deal of the year, Mexico’s Banco Compartamos has reopened its 2015 notes, adding MXP1.5bn ($117.5m) in a tightly priced and upsized sale. After receiving MXP1.7bn demand, and the microlender reopened at 101.80 and priced at a spread of TIIE+57bp, inside of TIIE+59bp price talk. The microlender originally targeted MXP1bn, but postponed issuance by one day to increase the size of the transaction. Investment funds and private banking were among the notable buyers, according to a person familiar with the sale. Proceeds will be used to refinance short-term indebtedness comprising of lines of credit. Banamex led the transaction, rated AAA/AA on a national scale. The original MXP1bn bond priced at TIIE+130bp in 2010.
In what is likely the final Mexican domestic bond deal of the year, Mexico’s Banco Compartamos has reopened its 2015 notes, adding MXP1.5bn ($117.5m) in a tightly priced and upsized sale. After receiving MXP1.7bn demand, and the microlender reopened at 101.80 and priced at a spread of TIIE+57bp, inside of TIIE+59bp price talk. The microlender originally targeted MXP1bn, but postponed issuance by one day to increase the size of the transaction. Investment funds and private banking were among the