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LONDON: The United Mexican States has launched a 2.5bn dual tranche 2024 and 2045 bond issue, according to a lead.
The deal is split equally between a 1.25bn 2024 note that will price at mid-swaps plus 110bp, and a 1.25bn bond that will price at mid-swaps plus 190bp.
Mexico began marketing the 2024 note at mid-swaps plus 135bp area today, before revising guidance to 125bp area.
The longer tranche was offered to investors at 205bp area over mid-swaps, before tightening to 195bp area.
Barclays, Deutsche Bank and Santander are running the deal.
Mexico is rated A3 stable by Moody's, BBB+ stable by Standard & Poor's and BBB+ stable by Fitch.
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