Inbursa Raises Domestic Funds

Banco Inbursa has sold MXP4.6bn ($329m) in Mexico’s domestic bond market, according to a banker on the deal. The 3-year floating-rate note pays the TIIE+25bp. The price comes roughly in line with the market’s expectations, as it had been seen getting a similar level to Feburary’s MXP3.5bn 2015 bond, paying TIIE+20bp. The Carlos Slim-owned bank had been registered for up to MXP5bn, but had been expecting a MXP4bn sale. Proceeds will be used to fund bank operations. Actinver, BAML, Banamex and Inbursa managed the transaction, rated AAA on a national scale.