Urzúa's resignation could complicate Terrafina bond pricing

Urzúa's resignation could complicate Terrafina bond pricing

Bonds Debt Capital Markets Economy & Policy Mexico

Terrafina's upcoming bond issue could face pricing pressure after the abrupt resignation of Mexico’s Finance Minister Carlos Urzúa's rattled the bond market, according to market sources. Just as the real estate investment trust launched its roadshow Wednesday in London and Los Angeles to promote its new benchmark bond, market spreads rose as much as 25bp, a Mexico City-based economist told Latin Finance, adding that they have since eased, with the 10-year sovereign up 6bp to yield nearly 7.6%.

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