Banorte sells $500 mln of 10 year non-call perpetual

Banorte sells $500 mln of 10 year non-call perpetual

Bonds Debt Capital Markets Fixed Income Corporate & Sovereign Strategy Mexico

Mexican lender Banorte sold $500 million worth of perpetual non-call 10-year notes on Thursday in a deal that was four times oversubscribed, a source involved in the deal told LatinFinance. Working with Goldman Sachs, Bank of America, Credit Suisse and MUFG as bookrunners, Banorte priced the notes at par to yield 8.375%, the source said. The Mexican bank started with initial price talk in the 8.875% area before putting the guidance at 8.375%. It launched the $500 million worth of perpetual calla

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