Bancomext's Peso-Euro Bond

Bancomext's Peso-Euro Bond

Mexico

Until very recently, most international investors would generally buy Mexican peso bonds to indulge in a little currency speculation. But the game has changed now that the world's three main credit rating agencies have awarded Mexico an investment-grade rating. Owning peso debt has quickly become a less speculative affair, requiring some serious fundamental credit analysis. A successful peso bond sold to international investors in November 2002 by Bancomext, the Mexican government's import-export bank, showed just how much has changed in the country's capital markets with the consolidation of economic reform and fiscal stability. For these reasons, LatinFinance has named Bancomext's MP$1

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