Infonavit Sets MBS Sale Date

Mexican quasi-state housing fund Infonavit plans to sell up to MXP3bn in 2030 mortgage-backed bonds April 9. The issue is the first from a new MXP15bn program. The issue is scheduled to coincide with pension fund changes, according to a banker on the deal. The most notable alteration is the “corte transversal,” which allows division into five funds based on employees’ age group, with increasing degrees of aggressiveness. Banamex and Deutsche Bank are managing the mxAAA rated sale.