Su Casita Preps $300 Million Cross-Border RMBS

Mexican mortgage company Su Casita is preparing to launch a cross-border RMBS next week to raise around $300 million, its CFO Mark Zaltzman told LatinFinance. If completed, the offering would be the first cross-border RMBS to come out of Mexico, according to S&P. The company will look to price the 144a offering by the end of the month. The deal is Su Casita’s second visit to the capital markets this year. It sold $78 million in peso-denominated CEBURS (certificados bursátiles ficuciarios) in January. Both financings are part of a $1 billion issuance program for 2007 whose proceeds are destined to repay debt the company has with its parent SHS, and for new mortgages. Credit Suisse is the structurer and placement agent.