April 9, 2013 / 9:56 PM / in 5 years

Mexico issues 1.6 bln eurobond, first in 3 years

MEXICO CITY, April 9 (Reuters) - Mexico placed a 1.6 billion euro ($2.09 billion) bond on Tuesday, securing its biggest-ever issue in the euro currency as well as a record low yield, the finance ministry said.

The 10-year bond with a coupon of 2.75 percent priced with a yield of 2.81 percent, and saw 2.8 times the demand of the amount on offer, the finance ministry said in a statement.

Mexico swapped 459 million euros of less-liquid debt with shorter maturities for the new bond, the ministry said.

Mexico last issued debt in euros in mid-2010, when it placed 850 million euros in seven-year bonds, according to IFR, a Thomson Reuters service.

Latin America’s second biggest economy issued about $5 billion of new foreign currency debt in 2012, including a landmark unsecured yen bond worth about $1 billion. Strong demand helped Mexico clinch record low interest rates.

Mexico’s Congress has approved foreign currency debt issues of up to $7 billion for 2013, and the government already issued $1.5 billion in 30-year dollar bonds in early January.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below