BBVA Bancomer Readies Local Bonds

BBVA Bancomer wants to sell up to MXP3bn in 2020 bonds in the local market as soon as next week. The notes are rated AAA on a national scale, and will pay a coupon set to the TIIE interbank rate. Mexico’s largest bank is also shooting to raise up to MXP6.4bn in 2029 peso-denominated RMBS later this month, if market conditions are favorable. BBVA’s own capital markets unit is managing both transactions.