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Mexico to trim short-term debt issuance in 2013
December 19, 2012 / 3:40 PM / 5 years ago

Mexico to trim short-term debt issuance in 2013

MEXICO CITY, Dec 19 (Reuters) - Mexico on Wednesday said it was lowering the amount of short-term debt, known as Cetes, it would offer at its weekly auctions in the first quarter of next year.

The Finance Ministry said in a press release that only the 28-day and 91-day Cetes would be affected.

In the statement, the ministry said it will reduce the average amount of 28-day Cetes sold per week by 2 billion pesos ($157 million) to 5 billion pesos. The amount sold of 91-day Cetes will be cut by 1 billion pesos to 7 billion pesos.

The ministry also said it would raise by 500 million pesos the amount offered to the market on its five-year bond every four weeks, taking it up to 8.5 billion pesos.

It said it will auction stripped 30-year inflation-linked Udibonos every 12 weeks from the first auction of the securities held on Nov. 14.

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