Prudential Plots CCD Sequel

Prudential Mexico is preparing a Certificado de Capital de Desarrollo (CCD) transaction, according to regulatory filings, what would be its second issuance in the asset class. The local subsidiary of the US financial institution is considering a 10-year deal of up to $500m equivalent that would invest in real estate projects, according to a banker on the deal. This would be similar to the MXP3.7bn CCD sold in August, and would represent Prudential’s fifth Mexican real estate fund. The structure eyes a 5-year investment period. BBVA Bancomer, manager of last year’s sale, is leading the deal.