Bond Mercantil Norte Banco 8.75% ( USP1400MAE86 ) in USD

Issuer	Mercantil Norte Banco
Market price	104.05 % ▼
Country	Mexico
ISIN code	USP1400MAE86 ( in USD )
Interest rate	8.75% per year ( payment 2 times a year)
Maturity	Perpetual
Prospectus brochure in PDF format is unavailable at this time We will provide it as soon as possible
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	20/08/2026 ( In 52 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.