Banobras Prices MXP Bond

Mexico’s Banobras has raised MXP1bn ($73.2m) in the domestic bond market. The development bank priced a 7-year fixed-rate bond last week at 6.32% or Mbonos+60bp. Banamex managed the sale, rated Aaa on a national scale. In November 2011, the development bank priced a MXP5bn 4-year floater flat to TIIE, a MXP500m 10-year UDI-denominated piece at Udibonos+50bp and a MXP1.5bn fixed-rate portion at Mbonos+70bp. Bank of America Merrill Lynch and Banamex managed that sale, rated Aaa on a national scale.