RCO Readies Domestic Retap

RCO Readies Domestic Retap

Mexico Bonds

Mexico’s Red de Carreteras de Occidente (RCO) is planning to reopen its 5.25% UDI-denominated 2032 notes for up to MXP1.8bn ($140m) as soon as today, according people familiar with the borrower’s plans. It raised MXP8.12bn through the original toll-revenue securitization in Mexico’s domestic market last year. In the deal, the concession operator priced a MXP2.84bn 15-year peso-denominated tranche with an 11-year average life at 9%, or Mbonos+340bp. A separate MXP5.28bn 20-year UDI-denominated po

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