BBVA Mexico Sells RMBS

BBVA Bancomer has priced MXP1.48m in 2028 RMBS at 8.85%. Demand reached MXP3.4bn, according to a banker managing the sale. The AAA national scale-rated transaction features more than 2,000 mortgage credits originated by BBVA in Jalisco, the Distrito Federal, Mexico state, Nuevo Leon and Chihuahua. It has insurance from Genworth. Proceeds strengthen the bank’s capital base. BBVA managed the sale.