Mexico’s capital markets have held up better following the US sub-prime crisis than experts expected, highlighted by recent issuances of record-size residential mortgage-backed securities.
On August 6, BBVA Bancomer placed Ps4.829 billion ($470 million) equivalent in UDI inflation-adjusted notes denominated 2033 RMBS, the largest MBS sale to date from Mexico. Recently, HSBC also announced it was preparing to sell between Ps1.5 billion and Ps2 billion in RMBS.
On August 14, Metrofinanciera announced plans to issue MBS valued at about Ps2.3
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