Fovissste Preps RMBS

Mexico’s Fovissste is targeting June 28 for its second RMBS sale of the year, according to regulatory filings. The government-owned lender plans to raise MXP6bn using a structure similar to its sale in March of MXP4.5bn. The UDI-denominated 2039 bonds will pay fixed rate, and are ranked AAA on a national scale. Proceeds from the deal will go to making new loans. Banorte, Ixe and Bank of America Merrill Lynch are managing the sale, rated AAA on a national scale. Goldman Sachs joins the trio as structuring agent. In March, Fovissste sold MXP4.5bn in 2039 bonds, at a fixed 5.25%, or Udibonos plus 294bp.