Infonavit Bond Moves Ahead

Mexico’s Infonavit plans to meet investors next week ahead of a MXP3.0bn ($238m) domestic RMBS sale, according to a person familiar with the Mexican mortgage and social services entity’s plans. The 28-year UDI-denominated bond is backed by Infonavit mortgages, and could price January 31. The proceeds will be used for making new mortgage loans according to Infonavit’s financial plans for 2013. Banamex and HSBC are managing the transaction, rated AAA on a national scale. Infonavit – through its Infonavit Total unit – last sold MXP1.97bn in UDI-denominated 2040 RMBS bonds in June, pricing at 4.20% via Banamex and Bancomer.