Infonavit Works on New RMBS

Mexican mortgage and social services entity Infonavit plans to raise up to MXP3.0bn ($231m) in UDI-denominated RMBS in the domestic market in January. The 28-year paper will be backed by Infonavit’s mortgages. Banamex and HSBC are managing the new transaction, rated AAA on a national scale. Infonavit – through its Infonavit Total unit – last sold MXP1.97bn in UDI-denominated 2040 RMBS bonds in early June, pricing them at 4.20%, via Banamex and Bancomer.