Compartamos Set for MXP Retap

Mexico’s Banco Compartamos is scheduled to price a reopening of its 2015 floating-rate domestic bonds today. The microlender wants to reopen the bonds for MXP1bn ($78m), an amount that would bring the new outstanding size to MXP2bn. This amount would complete a desired MXP2bn outstanding size for three separate transactions done in 2010, 2011 and 2012 under an MXP6bn program. Price talk is at TIIE+59bp-area. Proceeds will be used to refinance short-term indebtedness. Banamex is leading the transaction, rated AAA/AA on a national scale. The original MXP1bn bond priced at TIIE+130bp in 2010.