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Prospect News home > News index > List of issuers I > Headlines for IXE Banco SA de CV > News item
Published on 2/16/2007 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.

New Issue: Mexico's Ixe Banco sells $100 million perpetual securities at 9¾%

By Reshmi Basu

New York, Feb. 16 - Ixe Banco SA sold a $100 million offering of non-cumulative subordinated perpetual securities (//B+) at par to yield 9¾%, according to a market source.

Goldman Sachs was the bookrunner for the Rule 144A and Regulation S deal.

Ixe Banco is the retail banking arm of Ixe Grupo Financiero, which is a Mexico City-based bank offering multiple financial services.

Issuer: IXE Banco SA

Amount: $100 million

Issue: Non-cumulative subordinated securities

Maturity: Perpetual

Coupon: 9¾%

Issue price: Par

Yield: 9¾%

Pricing date: Feb. 16

Bookrunner: Goldman Sachs

Distribution: Rule 144A/Regulation S

Ratings:Fitch: B+

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