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Nemak Tightens, Upsizes Debut

Feb 22, 2013

Mexico’s Tenedora Nemak has raised $500m in its international DCM debut, getting $3.25bn in demand and upsizing from $300m expectations. Despite a softer market backdrop Thursday, the Ba2/BB minus Grupo Alfa auto parts manufacturer priced the 2023 NC5 at par with a 5.50% coupon, to yield UST+353.8bp,...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management


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