Mexico returned to the markets in November to raise ?750 million ($969 million) in bonds to refinance maturing debt. The 15-year bonds were priced to yield 188 basis points over German bunds and marked the longest date euro-issue bonds ever from an emerging-market borrower. Credit Suisse First Boston and Deutsche Bank led the sale. Mexico had not been in the euro market since June 2003 when it placed a 10-year, ?750 million issue.
Globopar Restructures Debt
The holding company for Brazilian media giant Globo will restructure $1.5 billion in defaulted debt. Rio de Janeiro-based Globopar, which defaulted in 2002, announced in November that it will pay up to $200
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