So far Santander Mexico and BBVA Bancomer are the only Mexican banks to issue international bonds. They came to the market at the end of January to each sell Ps5 billion ($413.5 million) of three-year bonds (both deals were self-led, jointly with Banamex) and both priced at 20 basis points over TIIE.
However, elsewhere in Latin America banks have been more active, with issuance from financial institutions wanting to replenish capital and fund their credit expansion.
"There has been a lot of supply of bank paper in Latin America already in 2011 and it has been across the spectrum...
