Peru Securitizer Readies RMBS

Titulizadora Peruana plans to sell Monday its first ever mortgage-backed security offering, according to officials. The securitization specialist owned by Titularizadora Colombiana has been pitching the deal worth up to $35m to local investors. The 20-year paper, backed by mortgages from BCP and Interbank, has an average life of 9 years and will pay fixed rate. The bond is dollar-denominated to match the currency of the loans. Subordinated bonds will represent about 6% of the issuance. BCP’s Credibolsa unit and Inteligo are placement agents for the deal, rated AAA on a national scale.