Inbursa Set for Pricing

Banco Inbursa plans to issue up to MXP5bn ($363m) in Mexico’s domestic bond market today, according to a banker on the deal. The 3-year floating-rate notes pay a spread to the TIIE benchmark. Proceeds will be used to fund bank operations. Actinver, BAML, Banamex and Inbursa are managing the transaction, rated AAA on a national scale. The Mexican bank last issued in February, pricing a MXP3.5bn 2014 at TIIE+20bp, and is expected to price at a similar level today.