Fovissste Raises RMBS

Mexican government housing lender Fovissste has raised MXP5.45bn ($413m) through a domestic RMBS sale, according to people familiar with the transaction. The 2043 UDI-denominated bond priced at 3.74%, or Udibonos+190bp, in line with 180bp-190bp indications. Demand topped 1.49x. The Mexican government-backed housing lender’s bonds come with a 23.2% partial guarantee from Mexico’s Sociedad Hipotecaria Federal (SHF). Proceeds from the sale will fund Fovissste’s lending. Actinver, Banorte-Ixe, and CI Casa de Bolsa managed the deal, rated AAA on a national scale. Fovissste previously visited the local market in May, raising MXP6.87bn in a UDI-denominated 2043 issue which was priced at 2.58%, or Udibonos+180bp.