Category: Structured Finance

Banobras plans to issue up to MXP5bn ($381m) in bonds in the Mexican domestic market next month. The Mexican development bank is able to issue a 4-year floater, 10-year fixed-rate bonds, and 10-year UDI-denominated notes. November 9 is the estimated issuance date, according to a banker on the deal. Bank of America Merrill Lynch and Banamex are managing the sale, rated Aaa on a national scale. Banobras last issued in the local market in 2010 via Banamex, when it sold MXP7bn in 4-year bonds after generating some MXP19bn in demand. Banobras promotes and finances infrastructure projects and public services, mainly, through sub-national government lending and project finance.

Mexico’s Unifin Financiera is preparing to issue up to MXP800m ($59m) in asset-backed bonds in the domestic market. This amount represents an increase from the originally planned MXP400m. The 5-year floater will pay a spread over TIIE. Pricing is expected at the end of November. IXE is leading the transaction, rated AAA on a national scale. It last raised MXP300m 5-year bonds in the domestic market in June 2010.