Inbursa Talks MXP Price

Mexico’s Banco Inbursa is heard targeting a TIIE+15bp-25bp price for an up to MXP3bn ($216m) issuance of 2-year floating rate bonds. December 21 is the tentative issuance date, market conditions permitting. The bank originally had plans to issue up to MXP6bn of 5-year floating rate bonds earlier this year. Proceeds will be used to fund bank operations. HSBC and Inbursa are leading the transaction, rated AAA on a local scale. Inbursa last issued in July, pricing a MXP4.9bn 2014 bond at TIIE +20bp via Actinver, BAML, Inbursa and Santander.