November 21, 2005
Mexico has sold $65 million of warrants as part of a debt swap program to m
Mexico has sold $65 million of warrants as part of a debt swap program to move more of the country's debt into the domestic market. The warrants enable investors to swap $2.5 billion dollar-denominated securities for peso debt next year. Investors can hand over the warrants, as well as any of 14 Mexican dollar bonds, in return for three local-currency bonds: maturing in 2011, 2014 and 2024. The sale was managed by JP Morgan Chase & Co and Credit Suisse First Boston.