BBVA Bancomer Prices Debut Peso RMBS

Mexico’s BBVA Bancomer has priced MXP2.54bn in 2028 RMBS at 9.05%, in the bank’s first ever securitization of this type. Proceeds will further fund the bank’s lending abilities. The portfolio contains about 3,000 BBVA mortgages, which have an average interest rate of 11.98%. BBVA managed the transaction itself.