Infonavit IV Eyes Tuesday Print

Government-backed mortgage lender Infonavit expects to price Tuesday MXP3bn worth of UDI-denominated 2031 notes. The issue, which began marketing last week, is heard targeting a rate of around 230bp over the Udibono, according to local bankers. This would mark Infonavit’s fourth installment of bonds this year, all of which have been rated AAA on a local scale. Infonavit has placed MXP6.1bn of the MXP10.0bn-MXP15.0bn it is aiming to raise by the end of the year, and Joaquin Escamilla, director of its mortgage-backed bond program, says he is optimistic it will hit the target. Banamex and HSBC are leading tomorrow’s deal.