Bancomer Places MXP Bonds, Pipeline Builds

BBVA Bancomer has placed MXP2bn in 2012 floating-rate bonds at 8bp below the 91-day TIIE, in line with guidance. The bank’s DCM unit managed the mxAAA transaction, which supports the institution’s lending base. Separately, glassmaker Vitro is preparing to issue MXP700m in 2011 floating-rate bonds. The issue via Ixe is expected in June. Microfinance lender Financiera Independencia plans to issue up to MXP1bn in floating-rate notes, in a mxA rated transaction through HSBC and BBVA also expected for June.