Metalsa Clinches Sub-5% Yield

Metalsa Clinches Sub-5% Yield

Mexico Bonds

Mexico’s Metalsa generated $1.22bn in orders for its $300m international bond debut, tightening its yield to sub-5%. The 2023 priced at par with a 4.9% coupon, to yield at the tight end of 4.95%-area guidance, which had followed low 5% whispers. Metalsa’s bonds were trading around reoffer late Wednesday, traders say. At 4.9% yield, the split rated BB+/BBB minus Mexican vehicle parts manufacturer priced inside peer Tenedora Nemak’s Ba2/BB minus 5.50% $500m 2023 debut transaction, seen trading aro

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