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Credit Suisse México conducts first issuance of real estate capital certificates

Banco Credit Suisse (México) SA Institución de Banca Múltiple said Aug. 9 that it conducted its first ever placement of real estate capital certificates, or CKDes, worth up to 5.76 billion Mexican pesos.

The initial issuance of the 10-year securities, which will trade under quotation key "CSMRTCK 17," totaled about 1.15 billion pesos. According to the the bank, the issuance uses the so-called capital call framework, under which the bank has the option to carry out subsequent issues at a later date.

The placement was carried out through CIBanco SA Institución de Banca Múltiple, acting as a trustee. Placement agents included Casa de Bolsa Credit Suisse (México) S A de C V, Grupo Financiero Credit Suisse México SA DE CV, Acciones y Valores Banamex SA de CV Integrante del Grupo Financiero Banamex and Casa de Bolsa Banorte Ixe SA de CV Grupo Financiero Banorte.

As of Aug. 8, US$1 was equivalent to 17.94 Mexican pesos.