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
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 new markets.
In the Best Transport Financing and Best Local Currency
Infrastructure Financing categories, the deal came up against a
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