MXP Road Securitization Crosses Finish Line

MXP Road Securitization Crosses Finish Line

Mexico Bonds Structured Finance

The Monterrey-Saltillo toll road has priced a MXP4.20bn ($326m) securitization in Mexico's domestic bond market, reviving efforts after postponing late last year and clinching Mexico’s first non-RMBS securitization of 2013. The 2038 UDI-denominated notes backed by toll road receivables priced at 5.90% or UDIbonos+426bp, coming wide to UDIbono+380bp-area indications. The books were heard covered, with Afores, insurance, private pension funds and hedge fund participation. The bond has a 10.5-year

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