Banorte completes fourth Swiss franc-denominated bond deal

Banorte completes fourth Swiss franc-denominated bond deal

Asset Management Capital Markets Bonds Debt Corporate & Sovereign Strategy Debenture Fixed Income Funds Mexico

Mexican lender Banorte raised CHF225 million ($230 million) from the sale of four-year notes in the Swiss bond market on Monday, drawing strong investor interest, a source involved in the deal told LatinFinance. Led by the sole bookrunner, Credit Suisse, the company priced the 0.5% 2024 notes to yield 0.47%, or 108 basis points over mid-swaps, the source said. Banorte had set the initial price talk around 110 to 120 basis points over mid-swaps before launching CHF150 million with a 0.5% coupon.

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