Bancomext Readies Domestic Bonds

Mexico’s Banco Nacional de Comercio Exterior (Bancomext) is preparing to raise up to MXP2bn ($160m) in the domestic market, according to a selling memo. The Mexican state-owned bank is planning to price the 10-year fixed rate bonds on November 21. Banamex and HSBC are managing the deal, rated AAA on a national scale. The development bank last priced MXP1.5bn in 2022 bonds at 5.75%, or Mbonos+49bp in July.