Fovissste goes long with local bonds

Fovissste goes long with local bonds

Bonds Debt Fixed Income Capital Markets Mexico

Mexican state-run mortgage lender Fovissste sold MXN10 billion ($491 million) worth of 27.9-year bonds in a deal that 2.28 times oversubscribed in the local market, the local branch of Spanish bank BBVA said in a press release on Thursday. BBVA was the bookrunner on the bond sale, which priced at a fixed rate of 3.16%, or 75 basis points over Udibono government bonds. The bonds were denominated in UDIs, units of account that adjust for inflation, as part of a MXN20 billion program, according to

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