Compartamos Looks to Upsize Bond

Mexico’s Banco Compartamos has increased the amount sought for a reopening of its 2015 floating-rate bonds to MXP1.5bn ($117.5m), according to a source following the sale, on increased investor demand. The microlender originally targeted MXP1bn in the reopening of its 2015 bonds and is set to price today, after initially planning on Wednesday. This amount would complete issuance under a 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.