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Mexico - February 2021

ECONOMIC HIGHLIGHTS

Eurobond issue: On 18 January, Mexico’s finance ministry (SHCP) announced that it had issued two euro-denominated bonds worth a total of €1.8bn (US$2.1bn) in international markets. The two bonds offered were €1bn in a 12-year bond, and €800m in a 30-year bond. The SHCP said that demand for the securities reached €6.8bn, 3.78 times the original amount, with the operation involving 243 international institutional investors, which the SHCP highlights “reaffirms the confidence of foreign investors in Mexico”. According to the SHCP, the funds raised by the new bonds will be used to repurchase euro-denominated debt that matures in 2023, reducing repayment commitments by 36%. The ministry said that this is the first stage of a three-part refinancing operation, which aims to “improve the profile” of external market debt maturities, and to optimise the portfolio’s financial position.

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