State of Mexico Leads Jumbo MXP Refinance

State of Mexico Leads Jumbo MXP Refinance

Mexico

Capitalizing on upgrades and market opportunity, State of Mexico is wrapping up the final phase of a MXP27bn debt refinance which extends duration and slashes the price on most liabilities. The amortizing deal in 20, 25 and 30-year tranches, with roughly a third of the amount in each, has an average duration of 12.5 years. The weighted average spread is 48bp over 28-day TIIE. “Right now, we are at TIIE plus 170bp, so you can see the benefit of having a [new] bank credit,” State of Mexico’s finan

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial