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LatinNews Regional Monitor: Mexico - 17 March 2017

TRACKING TRENDS

MEXICO | Local bond issue. On 8 March Mexico’s finance minister (SHCP) announced that M$15bn (US$763.4m) had been successfully placed on the domestic market, in what was the first such operation of the year. According to an SHCP statement, the bonds, maturing in 2047, offered a fixed rate of 7.85% through a syndicated auction. The statement added that the issue formed part of the government’s 2017 financial plan and that the funds would be used to finance its budget. It also noted that the bonds were oversubscribed with total demand equalling M$30bn (US$1.52bn), as over 50 national and foreign investors took part in the operation (57% national investors and 43% international investors).

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