Inbursa to Issue Debut MXP Bond

Banco Inbursa, a subsidiary of Mexican financial group Inbursa, will issue up to MXN5bn in 5-year paper, in its first bond issue since it was set up in 1993. The bonds due August 2015, rated AA on a national scale, will pay a spread over TIIE. They are scheduled to be sold August 11. “Proceeds from this deal will be used to improve the bank’s liquidity profile and grow its credit portfolio,” says a banker on the self-led transaction. “Up to now, the bank has not had a debt program, so we are still in the process of sounding out investors about pricing.”