Mummies, Swaps and Mortgages

Mummies, Swaps and Mortgages

Mexico

It seems almost anything is possible in Mexico's booming capital markets these days. The mummy museum in the central city of Guanajuato has asked bankers to explore the possibility of securitizing its income stream from ticket sales. Capital markets activity in Mexico is exploding as yields on government bonds plummet and investors hunt out richer pickings in corporate debt, making room even for bizarre potential issuers such as Guanajuato's popular tourist attraction. Last year, peso-denominated corporate debt issuance grew to $4.04 billion, up from $593 million in 1999. Volumes on MexDer, the Mexican derivatives market established in 1998, grew 360% last year alone, and now more than 10

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