RCO Jumps Through Issuance Window with Retap

RCO Jumps Through Issuance Window with Retap

Mexico Bonds Structured Finance

Mexico’s Red de Carreteras de Occidente (RCO) took advantage of an opportunity Tuesday to reopen its 5.25% UDI-denominated 2032 bond for MXP1.8bn ($136m). RCO re-tapped the 5.25% note at 101.991 to yield 5.25%, or Udibonos+310bp, tight to the Udibonos+332bp where the bond was priced in the original issue. Demand topped 1.8x from Afores, insurance companies, and private banking. The MXP1.8bn issue is the remainder of a MXP10bn maximum amount partially guaranteed by government development bank Ban

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