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CIBanco to offer 1.1B Mexican pesos in trust certificates

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CIBanco to offer 1.1B Mexican pesos in trust certificates

CIBanco SA Institución de Banca Múltiple will offer 288,000 trust certificates for a total amount of up to 360.0 million Mexican pesos in a debt program of the securities. The series B of the issuance is named SIRENCK 17.

According to a security filing, the securities will be issued Dec. 21 after a Dec. 15 third capital call begins.

Meanwhile, CIBanco also plans the offering of certificates of series B of the security type PRANACK 15-2.

The bank said 59,325,720 trust securities will be offered for up to 741.6 million pesos. The securities will be issued Dec. 18 after a Dec. 13 fourth capital call begins.

The proceeds from both offerings will be used to fund investments, the bank noted.

As of Nov. 30, US$1 was equivalent to 18.55 Mexican pesos.