Banorte set to price Swissie return
Mexican lender Banco Mercantil del Norte (Banorte) is looking to sell its third Swiss franc bond, breaking a two-week hiatus in cross-border issuance from Latin American borrowers.
A3/BBB+/BBB rated Banorte set initial price thoughts of 135bp-145bp over mid-swaps for a proposed 4.25 year senior unsecured transaction that matures in December 2023.
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