January 13, 2015 / 4:45 AM / 5 years ago

Mexico says has covered half foreign debt issuance for 2015

MEXICO CITY, Jan 12 (Reuters) - Mexico’s sale of a new 30-year benchmark dollar bond and top-up of its 2025 ten-year dollar bond means the country has already covered half of its planned foreign currency debt issuance for 2015, the finance ministry said on Monday.

Finance Minister Luis Videgaray said in a statement that “just over 50 percent” of Mexico’s foreign financing needs had been met via a $2 billion bond sale from Nov. 18, and the $2 billion in debt issued on Monday.

The 3.56 percent yield paid on the 2025 dollar top-up sold on Monday was a record low for such a bond, the ministry said.

Alejandro Diaz de Leon, head of the government’s debt office, told local radio that Mexico had brought forward its dollar bond issuance in anticipation of a possible rate hike by the U.S. Federal Reserve later in 2015.

Towards the second half of the year, Mexico would consider completing its planned foreign debt issuance in other currencies such as euros or yen, Diaz de Leon said. (Reporting by Dave Graham and Luis Rojas; Editing by Shri Navaratnam)

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