Grupo Mexico Unit Clinches Project Bond

Grupo Mexico Unit Clinches Project Bond

Mexico Bonds

Grupo Mexico’s Mexico Generadora de Energia (MGE) emerged Thursday to raise $575m to help fund a power project. The 2032 notes priced at par with a 5.50% coupon, to yield UST+388bp, and end up tight to mid to high 5% initial price thoughts. The bonds were trading up half a point in the grey, according to traders. Final demand topped $1.8bn, with approximately 150 mostly EM dedicated, high grade and structured investor accounts participating. At least 50% of demand came from the US, 30% from Euro

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