Inbursa Taps Local Market

Mexico’s Banco Inbursa has priced MXP11.5bn ($873m) in 2017 bonds, according to people familiar with the matter. The bonds priced at TIIE+27bp, in line with TIIE+27bp-area guidance. The Carlos Slim bank saw demand of about MXP13bn. Inbursa plans to use the funds to improve its liquidity profile and for general banking purposes. Inbursa, Bank of America Merrill Lynch, Finamex, Banamex, BBVA Bancomer, Banorte-Ixe and Actinver managed the transaction, rated AAA on a national scale.