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Mexico's Nafinsa places 2 tranches of cebures certificates for 6B pesos

Nacional Financiera SNC Institución de Banca de Desarrollo has issued two tranches of development bank certificates, known as cebures, through a syndicated auction process for a total of up to 6 billion Mexican pesos, El Financiero reported.

One of the tranches was issued at an adjustable rate, with a period of three years and a coupon rate equal to the Interbank Offering Rate in Mexico, or TIIE, minus 1 basis point. The other bond yields at a fixed rate, with a term of 10 years and a coupon rate of 6.20%.

Of the total amount, 4.75 billion pesos were placed in the revisable-rate bond, while 1.25 billion pesos were placed in the fixed-rate tranche.

The auction was attended by 15 brokerage firms, the report noted.

As of April 6, US$1 was equivalent to 18.77 Mexican pesos.