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LatinNews Regional Monitor: Mexico - 23 April 2020

In brief: Mexico places historic US$6bn worth of bonds

* Mexico’s finance ministry (SHCP) has placed US$6bn worth of bonds on the international market - the biggest placement in the country’s history - to help consolidate government finances and guarantee resources to tackle the coronavirus (Covid-19) pandemic. The SCHP highlighted that the “high demand observed during today’s transaction (4.75 times the amount placed) shows the enormous confidence international investors have in our country and our management of economic policies and public finances”. The demand totalled approximately US$28.5bn, and over 420 investment institutions from all over the world participated. The government placed a five-year bond for US$1bn, with a yield to maturity of 4.125%; a 12-year bond for US$2.5bn, with a yield to maturity of 5%; and a 31-year bond of US$2.5bn, with a yield to maturity of 5.5%. The SHCP confirmed that the bonds do not surpass the net debt limits for the fiscal year, as established by congress.

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