Veracruz Preps Securitization

Veracruz Preps Securitization

Mexico Bonds Structured Finance

The Mexican state of Veracruz is preparing to raise up to MXP6.9bn ($540m) through a securitization of future federal payment flows, according to offering documents. Veracruz is targeting three separate tranches of MXP2.3bn each – a 15-year fixed-rate peso-denominated tranche with an 11-year average life, a 25-year UDI-denominated portion with a 19-year average life and a 15-year peso portion paying a spread to the TIIE with an 11-year average life. The bonds feature a guarantee from Banobras fo

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