Infonavit to Issue MXP Bonds

Mexico’s Infonavit is planning to sell up to MXP4.58bn UDI-denominated RMBS, according to a regulatory filing. The 2039 bonds are expected to be issued on or around June 1. The proceeds will be used to create new mortgages. Banamex and HSBC are managing the sale, rated AAA on a national scale. The government-run mortgage lender last came to the local market in March, when it issued MXP4bn in UDI-denominated RMBS, after receiving over MXP10bn in demand. Those 2039 bonds were priced at 4.95%, or Udibonos plus 202bp.