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RCO Set for Domestic Toll Road Securitization

Sep 12, 2012

Mexico’s Red de Carreteras de Occidente (RCO) is expected to price a toll road securitization today, in a deal raising as much as MXP10bn ($770m). The concession operator could be looking at a spread of around Mbonos+270bp for a 15-year peso-denominated tranche with an 11-year average life, and around Udibonos+270bp for a 20-year UDI-denominated portion with a 14-year average life, according to buyside sources following the process. “The deal looks interesting and the...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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