BNP Mexico Brings First MXP Bond

BNP Paribas Personal Finance has placed MXP1bn in domestic floating-rate notes, its first-ever long-term debt sale. The 2011 bond, guaranteed by the French parent, priced at TIIE plus 160bp. The transaction was 3-4 times subscribed, according to a banker on it. BNP plans to use proceeds for its operating needs, including lending. Scotia, Santander and HSBC managed the sale.