Mexico's Patrimonio priced an Ambac-wrapped deal that is the tightest pricing ever achieved for a domestic structured transaction denominated in inflation-indexed units (UDIs), according to ASR data.
Sized at 264 million UDIs ($92 million), the 27-year final transaction priced at a real rate of 4.29%. The collateral consisted of mortgages originated by Patrimonio, which belongs to a group of nonbank financing companies known as Sofols. Fitch Ratings, Moody's de Mexico, and Standard & Poor's gave the deal triple-A on their respective national scales. Citigroup unit Acciones y Valores led the RMBS.