By Christine Van Dusen
Atlanta, July 14 - Mexico's Banco Mercantil del Norte SA (Banorte) priced $300 million 4 3/8% senior unsecured notes due 2015 (A3/BBB-/BBB) at 99.725 to yield 4.437%, or Treasuries plus 262.5 basis points, according to a market source.
JPMorgan was the bookrunner for the Rule 144A and Regulation S transaction.
Banorte is a lender based in Monterrey, Mexico.
| Issuer: | Banco Mercantil del Norte SA (Banorte)
|
| Amount: | $300 million
|
| Maturity: | 2015
|
| Description: | Senior unsecured notes
|
| Bookrunner: | JPMorgan
|
| Coupon: | 4 3/8%
|
| Price: | 99.725
|
| Yield: | 4.437%
|
| Spread: | Treasuries plus 262.5 bps
|
| Trade date: | July 14
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
| Distribution: | Rule 144A/Regulation S
|
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