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UPDATE 1-Mexico's Infonavit places $194 million in MBS

Thu Nov 19, 2009 3:03pm EST

(Adds detail on settlement, background on Infonavit)

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MEXICO CITY, Nov 19 (Reuters) - Mexico's government-backed mortgage lender Infonavit said on Thursday it sold 2.533 billion pesos ($194 million) worth of mortgage-backed securities.

The transaction is expected to settle on Monday, said Infonavit, Mexico's largest mortgage lender. It said it has now issued 11.3 billion pesos of mortgage-backed debt this year.

Mexico's mortgage-backed debt market is small and has struggled to attract significant interest from big international investors.

Infonavit attracted foreign buyers to one of its placements for the first time in September.

Infonavit mainly finances itself with contributions from employers. But in recent years it has started issuing mortgage-backed securities to increase its funding capacity. ($1 = 13.04 pesos) (Reporting by Noel Randewich; Editing by Kenneth Barry)

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