Mexican Issuers Continue to Line Up

Mexico’s Grupo Kuo and government housing agency Fovissste are expected to price bonds today in Mexico’s domestic market. Fovissste plans to raise MXP5.28bn ($381m) through a 2042 UDI-denominated RMBS, and price in line with previous issuance. It paid 4.65% on a MXP4.06bn 2041 deal in March. BBVA Bancomer and Banorte-Ixe are managing the current sale, rated AAA on a national scale. Kuo is expected to price a MXP1bn 2019 domestic bond via Banorte-Ixe, at around TIIE+200bp, according to market participants.