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LatinNews Daily - 08 January 2020

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In brief: Mexico taps international financial markets

* Mexico’s finance ministry (SHCP) has reported that the government has placed US$2.3bn worth of bonds in the international markets. This is the first international bond issue of the year, which the SHCP said had been 6.4 times oversubscribed as 350 institutional investors took part in the operation. An SHCP statement said it managed to place US$1.5bn in bonds maturing in April 2030 offering an annual return of 3.25% and US$800m in bonds maturing in January 2050 offering a yield of 4%. The statement notes that the interest rate for the 2030 bond is the lowest ever offered by Mexico for US-dollar denominated bonds. It adds that thanks to the operation and the swap offered to holders of bonds maturing in 2022 and 2028 for the new 10-year bonds Mexico has now achieved its objective of refinancing its debt and securing 58% of the external funding needs projected for the year.