RCO Taps Global MXP Demand

May 23, 2013

Mexico’s Red de Carreteras de Occidente (RCO) has priced the first peso-denominated cross-border structured transaction of its kind, raising MXP7.5bn ($603m). The deal was heard drawing over MXP12.0bn in demand, capitalizing on international enthusiasm for the peso while presenting a structure with protections that made enough buyers comfortable. The 2028 senior amortizer priced at par with a 9.0% coupon to yield Mbonos+410bp, and tight to low-9% guidance that followed mid 9%...

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