Fonacot Plans Domestic Floater

Mexico’s Fonacot is planning to raise MXP1.95bn through the sale of floating-rate bonds in the domestic market. The issuer is targeting April 28 for the sale of the 2013 bonds, according to regulatory documents. Scotia and BBVA Bancomer are managing the sale, rated AAA on a national scale. Fonancot plans to use proceeds to add to its lending capability. The state-backed lender last visited the markets in December, selling MXP1.5bn in domestic bonds backed by consumer loans.