March 1, 2006
Mexico will buy back $5 billion of its foreign-currency debt, representing
Mexico will buy back $5 billion of its foreign-currency debt, representing 7% of all the sovereign's foreign debt, to bring down its current interest payments. Mexico plans to exchange bonds maturing in 2007 and 2033 for a new dollar-denominated benchmark bond due to be issued in the second half of this year. Banxico will announce the face value of the new 10-year bonds on Friday.