No Bells and Whistles Needed

No Bells and Whistles Needed

Mexico

At a time when most Latin American governments, banks and companies must invent complex structures to raise financing at affordable rates, Mexican issuers are able to attract investors with good old plain vanilla bonds at rock bottom prices. Now, Grupo Televisa, the Mexican media group that is also the world's largest Spanish-language broadcaster, has become the first private-sector issuer in Latin America to successfully launch a 30-year plain vanilla bond, further extending the yield curve for Mexican corporates. At the beginning of March, Televisa raised $300 million with a 30-year 144a bond with an 8.5% coupon led by Deutsche Bank Alex Brown, JP Morgan Securities and Citigroup. Jus

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