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International bonds: Banco Mercantil del Norte (Banorte), 6.875% perp., USD (USP14008AD19, P14008AD1)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingMexicoUndated (**/**/****)350,000,000 USD***/***/***
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Yield calculation

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Issue information

BorrowerBanco Mercantil del Norte (Banorte)
Bond typeCoupon bonds
Placement methodOpen subscription
Placement typePublic
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount200,000 USD
Outstanding principal amount200,000 USD
Amount350,000,000 USD
Outstanding face value amount350,000,000 USD
Placement date**/**/****
Other tranchesBanco Mercantil del Norte (Banorte), 7.625% perp., USD
Floating rateYes
Reference rate5Y UST Yield
Coupon RateShow
Coupon Rate
*.***% from the interest commencement date until but excluding **.**.****, *Y USD Yield from **.**.**** to maturity
Current coupon rate6.875%
Day count fraction***
ACI*** (09/18/2019)
Coupon frequency4 time(s) per year
Interest accrual date**/**/****
ListingSGX

Related issues

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
09/12/2019*** / *** (*** / ***)*** (***)******Archive
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Bond Quotes by Market Participants

Market participantDate and timeBid/ask or last price
(Yield)
Zurich Cantonal Bank09/17/2019**.** / **.**
(*.** / *.**)
BCP Securities09/17/2019**.** / **.**
(*.** / *.**)
UCAP Asset Management09/12/2019**.*** / ***.***
(*.** / *.**)
Anonymous participant 3209/12/2019**.** / **.*
(*.** / *.**)
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Price chart

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Stock exchange and OTC quotes

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
FINRA TRACE09/17/2019*** / *** (*** / ***)*** (***)******Archive
SGX09/12/2019*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

ISIN / ISIN RegSUSP14008AD19
ISIN 144AUS05962GAH20
CUSIP / CUSIP RegSP14008AD1
CUSIP 144A05962GAH2
CFI / CFI RegSDBFUPR
CFI 144ADBFUPR
FIGI / FIGI RegSBBG00H1TMFM5
WKN / WKN RegSA19K4N
WKN 144AA19K4P
FIGI 144ABBG00H1TNDY6
TickerBANORT V6.875 PERP REGS

Primary placement

Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield)***% ( - )
Spread over US Treasuries, bp***.*

Participants

Bookrunner: Morgan Stanley, UBS
Depository: Euroclear Bank, Clearstream Banking S.A.
Arranger Legal Adviser (International law): Cleary Gottlieb Steen & Hamilton
Issuer Legal Adviser (Domestic law): White & Case London
Issuer Legal Adviser (International law): White & Case (USA)
Paying agent: BNY Mellon
Trustee: BNY Mellon
Arranger Legal Adviser (Domestic law): Ritch Mueller
Additional information
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Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/*****.****,***.*
2**/**/*****.****,***.*
3**/**/*****.****,***.*
4**/**/*****.****,***.*
5**/**/*****.****,***.*
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7**/**/*****.****,***.*
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9**/**/*****.****,***.*
10**/**/*****.****,***.*
11**/**/*****.****,***.*
12**/**/*****.****,***.*
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14**/**/*****.****,***.*
15**/**/*****.****,***.*
16**/**/*****.****,***.*
17**/**/*****.****,***.*
18**/**/*****.****,***.*
19**/**/*****.****,***.*
20**/**/*****.****,***.*
Show following
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Early redemption terms

*****

DateOption typePriceAdditional information
Show previous
**/**/****call***perpetual call
Show following
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Issue ratings

Banco Mercantil del Norte (Banorte), 6.875% perp., USD

Rating AgencyRating / OutlookScaleDate
Moody's Investors Service ***/***LT- foreign currency10/22/2018
S&P Global Ratings***/***Foreign Currency LT08/14/2017
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Issuer ratings

Banco Mercantil del Norte (Banorte)

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (local curr.)07/16/2019
Fitch Ratings***/***LT Int. Scale (foreign curr.)07/16/2019
Moody's Investors Service ***/***LT- local currency06/07/2019
Moody's Investors Service ***/***LT- foreign currency06/07/2019
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Consolidated IFRS reports

year 1 Q 2 Q 3 Q 4 Q
2019
2018
1.65 M eng
2017
5.49 M eng
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