Oaxaca Raises Half of Target

Oaxaca Raises Half of Target

Mexico Bonds

The Mexican state of Oaxaca has priced a MXP1.2bn ($92m) domestic bond, according to people familiar with the transaction, raising half of its expected target. The 15-year bond priced at 9.00%, or Mbono+285bp, wide to 8.50%-area price talk. The issuer received 1.2x demand. The remaining MXP1.2bn will be provided to the Mexican state through a bank credit line with government development bank Banobras. The 1.5% guarantee from funds received by the federal government and 25% from monthly governmen

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