Banobras Nears Domestic Bond

Banobras plans to issue up to MXP2bn ($158m) in bonds in the Mexican domestic market Tuesday. The government development bank is selling 10-year fixed-rate bonds that are expected to pay around MBonos+50bp, according to a person close to the sale. Banamex and BBVA Bancomer are leading the deal, rated AAA on a national scale. Banobras in November raised MXP2.5bn in domestic bonds, with the 2015s paying TIIE minus 3bp. Demand reached MXP5.2bn.