Fovissste Plans RMBS

Mexican government-backed housing lender Fovissste plans to raise up to MXP4.6bn ($357m) through a domestic RMBS sale in December, according to a regulatory filing. The planned 29.5-year fixed-rate bond is denominated in UDIs. Proceeds will fund lending. Actinver, Banorte-Ixe, and CI Casa de Bolsa are managing the sale, rated AAA on a national scale. Fovissste last visited the local market in October, raising MXP4.6bn in a UDI-denominated 2039 issue which was priced at 3.23%, or Udibonos+185bp.