Fovissste Completes RMBS

Mexican government housing agency Fovissste has sold MXP3.9bn ($317m) in domestic inflation-linked bonds backed by mortgage loans. The 2040 UDI-denominated notes pay 4.25%, pricing well inside of 4.70% expectations. Demand topped MXP10bn, according to a banker on the deal. Proceeds will be used to originate mortgages. BBVA Bancomer, BAML, IXE, Banorte managed the deal, rated AAA on a national scale.