Scotiabank Plots MXP Bond

Scotiabank is preparing to sell up to MXP2bn ($151m) in floating-rate bonds on Mexico’s domestic market, according a source familiar with the transaction. The bank is targeting a November 28 pricing for the 3-year bonds paying a spread to the TIIE benchmark. Proceeds are to be used for general corporate purposes. The issuance is part of an MXP15bn program. Scotiabank is sole lead on the transaction, rated AAA.