Credito Real to Issue

Mexico’s Credito Real is scheduled to issue a bond of up to MXP500m ($38m) today in the domestic market. The 3-year domestic floating-rate bond had been expected as soon as Wednesday. Proceeds are marked for general corporate purposes. BBVA Bancomer and Banorte-Ixe are leading the deal, rated A/A. In April, S&P upgraded the company’s rating to BB from BB minus globally and to A from A minus on a national scale.