LatinNews Daily - 03 January 2024

In brief: Mexico issues major bond placement on international market

*Mexico’s finance ministry (SHCP) has announced the Mexican government has issued bonds totalling US$7.5bn on the international market, with demand for the offer reaching US$21.3bn. The bonds, worth US$1bn, US$4bn, and US$2.5bn, are due to mature in five years, 12 years, and 30 years respectively. According to the SHCP, the coupon rates for the bonds are 5.0% for the five-year bond, 6.0% for the 12-year bond, and 6.4% for the 30-year bond. The SHCP noted that the bond placement positioned it as the largest sovereign issuer with a BBB rating globally. The placement is further sign of President Andrés Manuel López Obrador’s intentions to ramp up spending as his time in office draws to a close this year in a departure from the fiscal austerity that has characterised his term.

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