Banobras Heard Talking Price

Banobras is heard looking to pay TIIE+0bp-5bp on a new 4-year floating rate bond that is part of a MXP5bn ($369m) domestic market sale. It is also expecting to pay Mbonos + 80bp for a 10-year fixed-rate portion and Udibonos + 60bp for a 10-year UDI-denominated piece. The government-backed Mexican development bank plans to hold the 3-tranche sale on November 16, according to a banker on the deal. It had been originally aiming to price this week. Bank of America Merrill Lynch and Banamex are managing the sale, rated Aaa on a national scale. Banobras last issued in the local market in 2010 via Banamex, when it sold MXP7bn in 4-year bonds after generating some MXP19bn in demand.