Mexico opens dollar market with jumbo bond, tender

Mexico opens dollar market with jumbo bond, tender

Bonds

United Mexican States took a lead in the dollar market Thursday, selling the first Latin American bond of the year in that market, a $4bn dual-tranche transaction that it combined with a liability management exercise. Some 260 investors placed around $6bn of demand for Mexico’s 2021 and 2045 bonds which were priced at levels described as fair, but not cheap, by people following the deal. Lead managers Credit Suisse and HSBC priced a 3.5% $1bn 2021 note at 120bp over US Treasuries and a 5.55% $3b

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