Mexican State Completes Toll ABS

Mexican State Completes Toll ABS

Mexico Bonds Structured Finance

The Mexican state of Chihuahua has priced 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. A MXP1.5bn fixed-rate 15-year tranche with an 11.1-year weighted average life priced at 8.96% and a MXP1.5bn 15-year floating-rate tranche with a weighted 10.8-year average life priced at TIIE+170bp. Both priced in line with price talk and feature a guarantee from development bank Banobr

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