LatinNews Daily - 18 January 2021

In brief: Mexico issues bonds in euros to reduce debt repayments

* Mexico’s finance ministry (SHCP) has issued two bonds worth a total of €1.8bn (US$2.1bn), and will use these funds to repurchase euro-denominated debt that matures in 2023, reducing repayment commitments by 36%. The bond issue was the first stage of a three-part refinancing transaction, which the SHCP said aims to “improve the profile” of external market debt maturities, and to optimise the portfolio’s financial position. Two bonds were issued: a 12-year, €1bn bond, and €800m worth of a 30-year bond. According to the SHCP, this transaction reached a maximum demand of €6.8bn, 3.78 times the original amount, with the operation involving 243 international institutional investors, which the SHCP highlighted as “reaffirming the confidence of foreign investors in Mexico”.

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