Interacciones Preps MXP Debt

Mexico’s Banco Interacciones is looking to issue up to MXP700m ($53m) in subordinated notes in the domestic market, according to Moody’s, which assigns the notes a Baa1 rating. The notes will represent the third issuance under a non-convertible subordinated notes program, eligible for Tier-2 capital treatment for up to MXP2bn. Further details of the transaction were not immediately available. Proceeds will be used to maintain liquidity and general corporate purposes. Interacciones specializes in sub-national and public infrastructure financing in Mexico.