Mexico capped a three-year
campaign in 2003 to construct an even and long-dated yield
curve in the local market when it successfully place a MP$1.19
billion ($108 million) 20-year fixed rated bond, the first such
issue in the country's history. The bond is the most ambitious
local issue yet from a sovereign that has come of age as a
borrower over the last few years (see "In a Class of Its
Own"). LatinFinance recognizes Mexico's
achievements in cultivating the local market, and the precedent
it has set for corporate issuers, by naming its 20-year bond as
the Sovereign Local Currency Bond of the Year.
The fact that Mexico was able to successfully place a
20-year bond with a yield of 8.39% with local investors is
remarkable given that just three years ago the longest maturity
paper that the sovereign could place locally was a one-year
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.