News on Bancomer

From Bloomberg:

Grupo Financiero BBVA Bancomer SA, who may turn over cash to its Spanish parent bank has made investors start to sell-off the lender’s bonds, making them attractive to ING Groep NV and Aberdeen Asset Management Plc.

Yields on the Mexico City-based bank’s $1 billion of bonds due in 2020 have risen 31 basis points, or 0.31 percentage point, this year to 6.65 percent yesterday, according to data compiled by Bloomberg. The average borrowing costs for Latin American banks dropped 27 basis points during the same period to 5.58 percent, Credit Suisse Group AG indexes show.

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