Banobras to Issue up to MXP7bn

Mexico’s Banobras is expected to issue up to MXP7bn in 4 year bonds today, rated Aaa by Moody’s on a national scale. The rating is based on the bank’s status as a government-related issuer. Investors expect the bonds to price flat to TIIE – 4.87% Monday – which they say is fair for the credit. Banobras provides financing for states and municipalities, specializing in infrastructure projects. Banamex is the bookrunner.”