Sofol Preps MXP Issue

Mexican lender Consupago is readying a cross-border sale of MXP750m in 2013 bonds. The Sofol specializing in payroll discount loans has issued yield guidance of 9.5%-10.0%, with the deal expected to price today or tomorrow, according to a banker on it. The issue is denominated in pesos, with payments in USD, and will raise funds to increase the bank’s capital. BCP Securities and GBM International are managing the BB minus sale, which was presented to investors last week and comes under Consupago’s $300m shelf.