Mexico returned to the markets in November to raise ?750
million ($969 million) in bonds to refinance maturing debt. The
15-year bonds were priced to yield 188 basis points over German
bunds and marked the longest date euro-issue bonds ever from an
emerging-market borrower. Credit Suisse First Boston and
Deutsche Bank led the sale. Mexico had not been in the euro
market since June 2003 when it placed a 10-year, ?750 million
Globopar Restructures Debt
The holding company for Brazilian media giant Globo will
restructure $1.5 billion in defaulted debt. Rio de
Janeiro-based Globopar, which defaulted in 2002, announced in
November that it will pay up to $200 million in cash for
outstanding debt, offering holders of debt guaranteed by TV
Globo from 50 cents to 70 cents per-dollar on their bonds, with
the price to be...
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