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Investors Clamor for Femsa Return

May 8, 2013

Mexico's Femsa has raised $1bn in its first international bond transaction in 14 years. The BBB+/A convenience store operator and beverage company drew about $8bn in orders and secured among the lowest corporate-issuer coupons ever seen in the region at both 10 and 30 years. A $300m 2023 bond priced at 99.776 with a 2.875% coupon to yield 2.901%, or UST+112.5bp, at the tight...

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

Jan Dehn, Ashmore Investment Management