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Mexico sets final terms on EUR1.9bn bond

Mexico has set final terms on a EUR1.9bn dual-tranche bond sale ahead of pricing later on Tuesday

Mexico sets final terms on EUR1.9bn bond
25/10/2016 |10:45Reuters |
Redacción El Universal
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Mexico has set final terms on a EUR1.9bn dual-tranche bond sale ahead of pricing later on Tuesday.

The country locked in a spread of mid-swaps plus 125bp on a EUR1.2bn long eight-year tranche, coming tight to guidance of 135bp area and initial price thoughts of 140bp-145bp over.

It also set a final yield of 2.20% on a EUR700m tap of its 3.375% 2031s, at the tight end of guidance of 2.20%-2.25% and inside initial price thoughts of 2.45% area.

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BNP Paribas, Citigroup and Santander are acting as bookrunners on the deal.

Expected ratings are A3/BBB+/BBB+ (negative/negative/stable).