Mexican Infonavit Issues 20-Year Mortgage-backed Debt

Infonavit, Mexico’s largest home financing company, has issued 20-year domestic debt worth P$1.058 billion ($98 million) with a fixed annual rate of 5.90%. The mortgage-backed debt is the fourth tranche of an offering that was launched last year. The non-profit lender said it placed most of the offering with pension funds, insurers, investment companies, and also – for the first time – with foreign investors. Infonavit said it is preparing another issue for December.