Mexican Mines Bond Market

Mexican Mines Bond Market

Mexico Bonds

Copper miner Cobre del Mayo (CDM) has raised $225m in new 2018 bonds, in its debut international transaction. The B/B3 copper miner priced at 99.058 with a 10.75% coupon, to yield 11.00%, in line with 11%-area guidance and initial price thoughts. The deal, said to be “well oversubscribed,” was comped to single-B credits like Marfrig’s 2017, seen trading around 10.5%, and Gol’s 2017, trading around 9.25%. CDM is raising funds to refinance most of its $210m total debt. Jefferies, BCP Securities an

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