Mexican State Plans Toll Road Securitization

Mexican State Plans Toll Road Securitization

Mexico Bonds Structured Finance

The Mexican state of Chihuahua is preparing to raise up to MXP15bn ($1.18bn) through a securitization of toll road revenues, according to people familiar with the sale. The domestic bonds are tentatively scheduled to price August 28, following a roadshow running this week. Chihuahua plans a MXP12bn 25-year UDI-denominated tranche, as well as MXP3bn in pesos split between a fixed-rate 15-year tranche with an 8.9-year average life and a 15-year floating-rate tranche with an 9-year average life. Th

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