Spain – Mexico
Mexico has issued $3.150 billion of dollar-denominated debt for 10 years, with an interest rate of 4,19%.
Demand exceeded supply by 3,2 times, with 380 international investors participating. The operation is part of a program to improve the country's debt profile and reduce it from 50,5% of GDP to 50,2% by prematurely canceling several previous bond issuances. It appears that recent, more conciliatory statements from the U.S. regarding the future of the North American Free Trade Agreement have led to a revaluation of the Mexican peso and debt in recent days, which has facilitated the placement of the bond issue.
Source: CESCE
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