Compartamos Preps Domestic Issue

Mexico’s Banco Compartamos is preparing to issue up to MXP2bn ($166m) in floating rate bonds in the domestic bond market. The micro-lender will issue 5-year bonds that will pay a spread over TIIE. Pricing is expected in mid-September. Bancomer, Banamex and HSBC are managing the sale, rated AA on a national scale. In 2001, Banco Compartamos became the first micro-lender to issue debt in the local capital markets. Compartamos last visited the local bond market in October 2010 when it sold MXP1bn in floating rate bonds that were priced at TIIE+130bp.