Banamex Gets MXP7bn in 5-Year Money

Banamex on Wednesday issued an MXP7bn 5-year bond. The bank had been expected to issue a dual tranche 10-year and 5-year deal, but the bank decided to issue the full amount in 5-year bonds, due to levels of demand for that tenor. The bond priced at TIIE plus 28bp, 7bp tighter than the guidance. The bonds are rated AAA on a national scale and use of proceeds is to expand its lending portfolio. Private banks, investment funds, insurance companies and treasures participated in the deal.