Bond Mercantil Norte Banco 7.625% ( USP14008AE91 ) in USD

Issuer	Mercantil Norte Banco
Market price	102 % ▼
Country	Mexico
ISIN code	USP14008AE91 ( in USD )
Interest rate	7.625% per year ( payment 4 times a year)
Maturity	Perpetual
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Cusip	P14008AE9
Standard & Poor's ( S&P ) rating	BB- ( Non-investment grade speculative )
Next Coupon	06/07/2026 ( In 7 days )
Detailed description	Banco Mercantil del Norte (Banorte) is a major Mexican financial institution offering a wide range of banking and financial services, including commercial banking, wealth management, and brokerage services. Banorte (Banco Mercantil del Norte) issued a perpetual USD-denominated bond (CUSIP: P14008AE9, ISIN: USP14008AE91) currently trading at 99.75% of par value, offering a 7.625% coupon rate with quarterly payments, and rated BB- by Standard & Poor's.