Chihuahua Set to Finish off Road Securitization

Chihuahua Set to Finish off Road Securitization

Mexico Bonds Structured Finance

The Mexican state of Chihuahua is preparing to price today the final two tranches of a three-tranche securitization of toll road revenues, completing a MXP15bn ($1.13bn) fundraising, according to people familiar with the matter. The MXP3bn to be sold today is to be split between a fixed-rate 15-year tranche with an 8.9-year average life and a 15-year floating-rate tranche with a 9-year average life. Both feature a guarantee from development bank Banobras for up to 15% of the total size per tranc

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