Mexican Issuers Set For Domestic Bonds

The government of Mexico’s Distrito Federal, and lenders Inbursa and Scotia are each scheduled to tap Mexico’s domestic bond market today. DF is heard seeking to pay Mbonos+85bp on up to MXP2.5bn ($192m) in 15-year bonds, according to a source familiar with the plans. Proceeds will be used to fund public works projects. Banorte-Ixe and Santander are managing the federal government-guaranteed transaction, rated AAA on a national scale. Separately, Inbursa is set to sell up to MXP8bn in 2 and 4-year floating-rate notes. Inbursa, Banamex, Bancomer, HSBC and Banorte-Ixe are managing the transaction, rated AAA on a national scale. For its part, Scotia is offering up to MXP2bn in 3-year floating-rate bonds. Scotiabank is sole lead on the deal, rated AAA. Elsewhere in the market, America Movil was targeting this week for a MXP10bn-MXP15bn 2022 Europeso transaction, but had not yet been heard defining the date.