Banorte set to price Swissie return

Mexico, Switzerland, LatAm
By Oliver West
20 Aug 2019

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.

Credit Suisse, sole bookrunner, later refined this to 135bp-140bp. The deal, which has an indicative coupon of 0.50%, is expected to price on Tuesday.
Banorte ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.