Banorte to Sell MXP2.5bn

Banorte has notified the Bolsa de Valores that it intends to sell up to MXP2.5bn in subordinated debt next year. The bank says the issuance is part of a 5-year program worth MXP15bn from which it sold MXN 2.75bn in 10-year bonds in June and another MXN5bn in March.