Microfinancier Readies MXP Retap

Mexican microfinance institution Banco Compartamos is preparing a retap of the 2012 floating-rate bonds it sold in July, with pricing coming as early as this Wednesday. Details are still being finalized, according to an official at the bank. Compartamos is set to offer up to MXP1bn of the bonds, of which it previously placed MXP500m at TIIE plus 200bp through Credit Suisse. The notes are rated AA minus. Proceeds will provide general lending capital. Banamex is managing the new deal, which is heard driven by reverse inquiry.