Credito y Casa Pricing MXP1.4bn Issue

Mexico’s Hipotecaria Credito y Casa, the mortgage provider, is pricing this week a MXP1.4bn 2-tranche issue of certificados bursatiles. The deal includes a MXP1.2bn triple A tranche with a 7.2-year tenor, talked at 90bp-100bp over 28-day TIIE and a MXP177m A+ piece with a 7.7-year tenor talked at 190bp-200bp. The first is aimed at Afores and mutual funds and the latter at private banks. The average life is around 5 years. Barclays and Santander are joint leads. The deal comes from a MXP3bn program, of which MXP1.2bn was recently issued. It will price Thursday and settle Monday.