Mexico Completes External Debt Swap

Mexico Completes External Debt Swap

Mexico

Mexico Tuesday successfully swapped €493.8 million ($651 million) of euro-denominated foreign debt for domestic debt, with the exercise of its (XWE) series of warrants enabling investors to exchange the securities (UMS bonds) for peso debt (M bonds). Warrant holders exchanged euro-denominated bonds maturing 2008 to 2017 for 8.59 billion pesos of local-currency bonds due 2023. This is the last of four swaps that have seen Mexico exchange around $3 billion of foreign-currency debt for peso-denomin

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