Fovissste sells US$306mn in mortgage-backed securities

Wednesday, June 8, 2011

Mexican government mortgage loan institution Fovissste has issued 3.61bn pesos (US$306mn) in inflation-linked residential mortgage-backed securities (RMBS), the company said in a press release.

The issuance is part of Fovissste's second RMBS program, worth 14bn pesos.

The current tranche - the eight RMBS issues by Fovissste - was 3.03 times oversubscribed.

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The securities were sold with a 4.7% interest rate, the lowest ever for a Fovissste RMBS issue.