Mexico sets size at GBP1bn for 100-year bond

Wed Mar 12, 2014 9:13am EDT

LONDON, March 12 (IFR) - Mexico has set a deal size of GBP1bn for its 100-year sterling bond, according to a source close to the deal.

The final yield is set at 5.75%, pricing in range of final guidance of 5.75%, plus or minus an eighth. The annual coupon will be 5.625%. Global order books are in excess of GBP2.2bn.

The sovereign, rated A3/BBB+/BBB+, opened books on the benchmark-sized deal earlier on Wednesday, setting initial price thoughts in the 6% area.

Barclays and Goldman Sachs are the lead managers on the SEC-registered issue, which is expected to price later in the session.

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