September was a poor month for ABS issuance in Mexico, but the pipeline portends a few sizable deals up ahead. The only transactions placed in the public market was the second RMBS from FOVISSSTE, basically the piggybank for government employees in the country, and a negligibly-sized re-opening of an RBMS from Hipotecaria Total (for description of Total’s unique approach to RMBS see ASR 2/4/08).

The FOVISSSTE deal amounted to 936 million inflation-indexed (UDIs) ($297 million) and yielded 5.39%, with a legal final of 30 years. The fund closed its maiden RMBS only last June. The current transaction brings the agency’s total issuance of RMBS to 1,760 UDIs.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.