Fovissste Places RMBS

Mexican mortgage lender Fovissste has sold MXP5bn equivalent in domestic RMBS. The 2039 UDI-denominated bonds pay a fixed rate of 5.4%. Banorte, Ixe and BofA-Merrill Lynch managed the deal, rated AAA on a national scale, with Goldman Sachs as structuring agent. It is Fovissste’s third transaction this year, and also in its history, as the lender has stepped in to keep the local RMBS market alive this year along with fellow government-backed lender Infonavit. In September, Fovissste placed MXP4bn-equivalent in 2031 RBMS at 5.39%, through the same leads.