Banorte notches negative NIP in Swissies
Mexico’s second largest lender Banco Mercantil del Norte (Banorte) returned to the Swiss franc market for the fourth time in under two years on Monday.
Sole bookrunner Credit Suisse set initial price thoughts at 110bp-120bp over mid-swaps for a proposed 4.75 year note of at least Sfr150m ($153m). This included an indicative coupon of 0.5%.
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