© 2026 Arizent. All rights reserved.

ABS

Mexico Structured Issuance Hits $1.3 billion in March

Published Updated 1 Min Read

Issuance of structured deals in Mexico’s domestic market totaled Ps16.3 billion ($1.3 billion) during March, according to a monthly report by the research arm of IXE Grupo Financiero.

Among the handful of transactions was a landmark Ps1.62 billion auto loan ABS from GMAC Mexicana, jointly led by HSBC and Citigroup brokerage Acciones y Valores (see ASR 3/10).

A Ps1.39 billion tranche priced at 250 basis points over 28-day TIIE, while a Ps230 million piece priced to yield a fixed-rate 10.73%.

Fitch Ratings and Standard & Poor’s rated the A tranche triple-A and the B tranche single-A, on their respective national scales.

At the same time, state-controlled originators Infonavit and Fovissste did their part to keep RMBS alive, while private-sector originators stayed away. Combined, the issuers turned out Ps9.4 billion in domestic RMBS during March.

For reprint and licensing requests for this article, click here.

More From Asset Securitization Report

Mexico’s issuance hits $6bn in 06

No matter how you slice it, the Mexican securitization pie swelled to an unprecedented size in 2006. Deals in the domestic market totaled the local currency equivalent of $6.0 billion. According to Standard & Poor’s, excluding a gigantic 2005 collateralization of loans linked to federal bank IPAB, domestic ABS and MBS volumes ballooned about 130% […]

Mexico’s sleeping giant awakens: First true MBS deal on the way, could hit nearly US$1bn

The sleeping giant of Mexico’s securitization market is awakening. Once confined basically to bridge loans for construction, the housing sector could turn out the country’s first true MBS by 1Q02. Now in the works is a master trust combining mortgages from several SOFOLes (Sociedades Financieras de Objeto Limitado), special purpose financial companies that provide housing […]