With two construction finance-backed deals set to launch in the near future -making a total of three such deals issued in the past year - Mexico may be carving out a niche in housing-finance ABS.

For the second time this year, following a similar deal in April, Mexican builder Geo S.A. de C.V. is in the market with a second issue for the securitization of future account receivables generated by building contracts for low-income housing, to the tune of P169 million (U.S. $18 million). At the same time, Consorcio Hogar is also expected to close on the same type of securitization in the amount of P300 million (U.S. $32 million), which will be the first of its kind for the smaller Mexican construction company.

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