Mexicans to Issue Domestic Bonds

Mexico’s Banco Nacional de Comercio Exterior (Bancomext) and Daimler Mexico are scheduled to issue in the domestic bond market today. State-owned Bancomext is planning to issue up to MXP2bn ($154m) in 10-year fixed-rate notes. 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. Daimler is planning to price today up to MXP1.0bn ($77m) in 3-year floating-rate domestic bonds. The auto manufacturer’s notes come with a guarantee from the German parent. BBVA Bancomer and HSBC are managing the sale, rated AAA on a national scale. Daimler last came to market in June, when it priced a MXP1bn 2014 bond at TIIE+30bp.