Inbursa Preps Domestic Debt

Inbursa plans to issue up to MXP8bn ($615m) in the Mexican domestic bond market on November 28, according to sources familiar with the transaction. The Carlos Slim-owned lender is preparing to issue 2 and 4-year floating rate notes paying a spread over the TIIE benchmark, with the 2-year portion allocated a larger size. Inbursa, Banamex, Bancomer, HSBC and Banorte-Ixe are managing the transaction, rated AAA on a national scale. Inbursa last issued in October, selling MXP5bn in 2015 floating-rate bonds paying TIIE+25bp.