Best Infrastructure Financing, Mexico
Attracting international investors into a local currency bond to finance expansion of a toll road has broadened the investor base for Mexican infrastructure
Red de Carreteras de Occidente
Red de Carreteras de Occidente's May 2013 sale of a europeso
bond marked the first time a Mexican peso-denominated project
bond had been sold to international investors under the
144a/RegS format. That made it a landmark development for
Mexican infrastructure financing.
The 7.5 billion peso ($603 million) 2028 bond was also RCO's
first international sale, and the first Mexican toll-road deal
in the international capital markets since 2006.
RCO went up against other strong contenders in each category
of the three categories it won. Yet the deal stood out for its
innovation and its success in attracting international
investors, broadening the local currency's reach and opening
In the Best Transport Financing and Best Local Currency
Infrastructure Financing categories, the deal came up against a
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