Unifin Approaches Domestic ABS Sale

Mexico’s Unifin Financiera is preparing to issue a 5-year domestic ABS of up to MXP1bn ($76m) today, according to people familiar with the deal. It had initially targeted a September 25 pricing date. Banamex and Banorte-Ixe are leading the floating rate note, which is backed by credit receivables for automobile and equipment contracts. Unifin’s last domestic bond, rated AAA, was a MXP1bn 2017 sold in May at TIIE+160bp. Unifin is looking to price at a similar or tighter level than that.