Su Casita Prices Mexican RMBS (1)

Su Casita priced this week its largest capital markets transaction to date, a MXP3bn local RMBS, CFO Mark Zaltzman tells LatinFinance. The deal was composed of two aaa.mx rated senior tranches wrapped by MBIA and one a.mx rated subordinated tranche. The 283m UDI A1 series has a 3-year duration and was priced at 4.19%, while a 425m UDI A2 series carries an approximate duration of 7 years and came at 4.35%. The 64m UDI series B was priced at 6.99%. “The blended rate was one of the best we’ve achieved,” says Zaltzman. For the first time, Su Casita tapped the Mexican mutual funds.