Mexican Lender Plans Cross-border MXP Bond

Prestaciones Finmart is readying a MXP750m ($60m) 2016 bond, according to Fitch, which assigns a B+ rating to the RegS deal. It would be the first tap of the international markets for the Mexican payroll discount lender. The timing is unclear. Established in 2003, Finmart grants personal loans secured by payroll withholdings to unionized public sector employees in Mexico. Last year, US-based EzCorp acquired 60% of Finmart through a capital infusion of $12m. Espirito Santo is heard managing the deal.