Inbursa Readies Local Market Return

Mexico’s Banco Inbursa is close to raising up to MXP3.5bn ($275m) in 2-year floating-rate notes in the domestic market. Pricing is scheduled for Friday after the borrower had originally scheduled a pricing date of February 8. The issuer is heard looking to pay TIIE +20bp, in line with a December issuance of MXP3bn 2-year bonds priced at TIIE + 20bp. Proceeds will be used to fund the bank’s operations. Banamex and Inbursa are managing the transaction, rated AAA on a national scale.