UMS Moves for LM

UMS Moves for LM

Mexico Bonds

Mexico is the latest LatAm blue-chip borrower to take advantage of stable borrowing conditions, raising $3.9bn in new 2023 senior unsecured bonds in order to fund a tender of shorter-term debt. Books for the Baa1/BBB/BBB+ sovereign were heard reaching $5bn before closing at 12:30pm Monday. The new bond priced at 99.543 with a 4.000% coupon, to yield 4.056% or UST+135bp, at the tight end of 135bp-140bp guidance and earlier 150bp-area initial price thoughts. The bonds were trading up 0.40 points M

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