Compartamos Plots Local Issue

Mexico’s Banco Compartamos is preparing to issue up to MXP1.5bn ($112m) in the domestic bond market in late August, according to a banker on the deal. The microlender plans 5-year floating-rate bonds for its fourth issuance under a MXP6bn program. Bancomer, Banamex and HSBC are managing the sale, rated AAA/AA on a national scale. Compartamos last visited the local bond market in August 2011, when it sold MXP2bn in 2016 domestic bonds at TIIE+85bp.