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ItalianoBond Banco Mercantil del Norte (Banorte) 8.75% ( USP1400MAE86 ) in USD
| Issuer | Banco Mercantil del Norte (Banorte) | ||||||||||||||||||||||
| Market price |  104.05 % ▼ |
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| Country |  Mexico
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| ISIN code |
 USP1400MAE86 ( in USD )
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| Interest rate | 8.75% per year ( payment 2 times a year) | ||||||||||||||||||||||
| Maturity | Perpetual | ||||||||||||||||||||||
| Minimal amount | 200 000 USD | ||||||||||||||||||||||
| Total amount | 750 000 000 USD | ||||||||||||||||||||||
| Cusip | P1400MAE8 | ||||||||||||||||||||||
| Standard & Poor's ( S&P ) rating | BB- ( Non-investment grade speculative ) | ||||||||||||||||||||||
| Next Coupon | 02/20/2027 ( In 118 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. This financial overview details a specific debt instrument, identified by ISIN USP1400MAE86 and CUSIP P1400MAE8, which is a perpetual bond denominated in USD and issued from Mexico by Banco Mercantil del Norte, commonly known as Banorte, a prominent and significant financial institution in Mexico's banking and financial services sector, whose creditworthiness is assessed by Standard & Poor's with a BB- rating; this particular fixed-income offering currently trades at a market price of 99.58% of its par value, features an annual coupon rate of 8.75% distributed through semi-annual payments, represents a substantial total issue size of $750,000,000, and stipulates a minimum acquisition volume of $200,000 per transaction. |
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