The stage is set in Mexico for a deal that might prove to be the curtain raiser for a lively MBS market in 2004. Sole lead Credit Suisse First Boston was roadshowing the transaction last week and pricing is anticipated for the first week of December, according to sources. Sized at 177.9 million inflation-indexed units (UDIs) (US$53 million), the deal has been rated Aaa.mx' and mxAAA' by Moody's Investors Service and Standard & Poor's, respectively. Its final legal maturity is 16 years - the kind of length you'll only find in the toll-road sector in Mexico.
Su Casita, one of the country's housing finance companies known as Sofols, and GMAC Hipotecaria are the originators. Local firm Mijares, Angoitia, Cortes y Fuentes is legal counsel.