Veracruz Targets November Securitization

Veracruz Targets November Securitization

Mexico Bonds

The Mexican state of Veracruz is preparing to raise up to MXP6.9bn ($540m) through a securitization of future federal payment flows, according to a person familiar with the sale. The domestic market bonds are tentatively scheduled to price November 9, after the state initially targeted an October sale. Veracruz plans three separate tranches of MXP2.3bn each – a 15-year fixed-rate peso-denominated tranche with an 11-year average life, a 15-year peso floating-rate portion with an 11-year average l

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