Su Casita Breaks New Ground

Mexican mortgage lender Hipotecaria Su Casita has broken new ground yet again to become the first Sofol – non-bank finance institution – to issue high-yield securities. Su Casita placed $150 million of the 10-year debt, with a 8.5% coupon. The issuance was several times oversubscribed. Credit Suisse acted as underwriter; law firm Milbank, Tweed, Hadley & McCloy LLP represented the Mexican lender in structuring and closing the transaction.