Fimubac to bundle loans in local bond market

Fimubac to bundle loans in local bond market

Bonds Debt Capital Markets Corporate & Sovereign Strategy Structured Finance Mexico

Mexican financial institution Fimubac plans to bundle up to MXN1.2 billion ($60.1 million) worth of consumer loans tied to payrolls or pension accounts and sell them in the local bond market, according to a securities filing. Fitch Ratings gave the proposed four-year notes a AA+(mex) rating with a stable outlook on Wednesday, citing a low default risk for the loans in the deal. Fitch also pointed out that Fimubac has sufficient reserves to cover three months of interest payments and has a fund e

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