Mexico to launch three-tranche Samurai bond

Tue Jul 8, 2014 9:13pm EDT

July 9 (IFR) - Mexico is to return to the yen debt market as early as next week with a three-tranche Samurai bond, according to sources close to the transaction.

Lead managers Citigroup, Mizuho and Nomura have begun soft-sounding investors for a fixed-rate offering of 3-year, 5-year and 10-year bonds, the sources said.

Official marketing is expected to kick off tomorrow, and the deal is expected to price as early as July 15.

Mexico's latest Samurai is expected to be rated A3 by Moody's and A- by Japanese ratings agency JCR. Moody's upgraded its credit rating on the country by one notch to A3 in February.

(Reporting By Frances Yoon. Editing By Steve Garton.)

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