Veracruz Returns for Local Securitization
Veracruz has returned to Mexico’s domestic bond market, addressing a small bit of its refinancing needs with a MXP4.86bn ($369m) three-tranche securitization of future federal payment flows. Though the issuer raised less than it could have, bankers and other states are hopeful the transaction signals a reopening for sub-sovereign entities to issue in the local market....
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