Metrofinanciera Raises MXP2.4bn In MTN

Mexican sofol Metrofinanciera has tapped the Mexican peso bond market for MXP1.6bn in a deal that closed Monday. The housing lender issued MXP800m in 3-year notes and MXP1.6bn in 2-year notes, priced at 98.45 and 99.00 respectively. The issues marked the first two series from the company’s MXP7bn local bond program. IXE, Vector and Santander were the lead placement agents. It is rated Baa2.mx and B1 globally. Mexican issuers have increasingly been issuing shorter-dated bonds as market conditions have tightened.