Citicorp Sells Paper for Banamex

NEW YORK -- Citicorp has structured and privately placed a $181 million asset-backed issue for Banco Nacional de Mexico, Mexico's largest bank.

The subordinated issue is backed by credit card receivables due from Visa International and MasterCard International.

This is the second such issue by Citicorp for Banamex.

A similar issue was placed privately with U.S. institutional investors last year.

A spokesman for the bank in New York was unable to supply any information on the maturity or yield on the issue.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.