Terrafina prints dollar bond despite recent market headwinds

Terrafina prints dollar bond despite recent market headwinds

Bonds Debt Corporate & Sovereign Strategy Mexico

Mexican real estate investment trust Terrafina printed a $500m dollar bond on Monday in a deal that saw spreads significantly tighten amid strong demand. Bookrunners tightened spreads to 287.5bp over US Treasuries, down from IPTs in the 300bp area. Books swelled to $2bn or four times the offer size. The demand reflected investor confidence in the REIT’s US sponsor and main investor, PGIM Real Estate, a unit of Prudential Financial. Some market watchers expected the transaction would face prici

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