Banobras to Issue MXP

Mexico’s Banobras plans to issue bonds in the Mexican domestic market via Bank of America Merrill Lynch and Banamex. Details on issuance date, size and tenor have not yet been determined. Banobras last issued in the local market in 2010, when it sold MXP7bn in 4-year bonds after generating some MXP19bn in demand. Banamex led its last deal, rated Aaa on a national scale by Moody’s. Banobras provides financing for states and municipalities, particularly for infrastructure projects.