Nicaraguan mortgage bank Primer Banco Inmobiliario (Pribanco) is preparing its first mortgage securitization deal. Working in conjunction with local bank Invercasa, Pribanco is structuring a trust and expects to launch its first offering of $10 million in the next two months.

"Even though the transaction is very small, we plan to have part of it wrapped and tap the foreign markets," said Mario Gonzalez Holman, president of Pribanco.

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