* Mexico’s finance ministry (SHCP) has hailed the completion of a US$6.6bn international debt refinancing deal. As part of the deal, the Mexican government will buy back two bonds set to mature in 2022, thus reducing by 75% the loans scheduled to amortise in 2022. As part of this, the SHCP also announced the issuance of two new bonds, a 10-year bond worth US$1.83bn maturing in 2031, and another 40-year bond worth US$1.8bn maturing in 2061. According to the SHCP, demand for the new bonds reached US$16bn - 4.4 times over-subscribed. In addition, investors with bonds maturing between 2023 and 2030 will be able to exchange them for the new 10-year bond, while bonds maturing between 2046 and 2050 can be exchanged for the new 40-year bond. Deputy finance minister,
Gabriel Yorio, tweeted that the deal was a “
success”, and highlighted that Mexico had obtained one of the lowest interest rates on the market for these bonds (2.66% and 3.77% for the 10-year and 40-year bonds, respectively).
End of preview - This article contains approximately 176 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options