CORPORATE HIGH-GRADE BOND: Femsa $1 bn 2023/2043

Jan 17, 2014

A record-low yield from a new issuer highlighted the strength of demand for emerging market paper

In a year of unprecedented appetite for emerging market debt, Latin American corporate borrowers found they could bring down their costs of funds substantially – and, often, push them even a little further.

Mexican beverage and convenience store operator Femsa underscored the strength of that market when it sold a two-tranche, 10 and 30-year $1 billion bond.

The 10-year o ered the...

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