Urbi Price Talk Heard

Mexican homebuilder Urbi Desarrollos Urbanos (URBI) is heard looking to pay TIIE+ 350bp area on a MXP1bn ($74.5m) 2014 bond. Issuance has been tentatively scheduled for next week. Proceeds will be used to refinance debt and for general corporate purposes. The offering is rated A- on a local scale. BBVA is managing the sale.