Bucking the slowdown in issuance of deals backed by real estate receivables, Mexico's BBVA Bancomer closed the country's largest-ever RMBS on Aug. 8.
The deal, amounting to 1.2 billion inflation indexed units (UDIs) ($475 million), was divided equally into two tranches. The A1 piece, with a duration of 2.5 years, priced at 4.61%. The A2 piece, with a duration of 6.5 years, yielded 5.53%. The legal final was 25 years.