Petrochemical Producer Makes DCM Debut

Petrochemical Producer Makes DCM Debut

Mexico Bonds

Mexico’s Grupo Idesa generated $400m in orders for its $300m international bond debut, according to people following the sale, pricing at a yield in line with initial expectations. The 2023 NC4 priced at 99.34 with a 7.875% coupon to yield 8.000%. The BB minus/BB minus rated petrochemical producer was seen offering 100bp versus where fellow Mexican industrial Grupo Kuo would price a new 10-year bond. Fund managers accounted for 65% of the trade, private banks 20%, insurance companies 5% and othe

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