September 13, 2019 |
IDB Invest has cut its financing costs with its latest bond sale in the Mexican market, a three-year floating rate note for MXN1.5bn ($76.2m) that priced a 3bp below the 28-day TIIE.
"It was an impressive price tag," said Eusebio Garre, the head of funding at IDB Invest. "The pricing level confirms the investor interest."
Investors placed more than MXN4.3bn in orders, or 2.9 times the issued amount, encouraged by recent activity in the Mexican bond market and their familiarity with IDB Invest, G
Multilateral lender prices a three-year note at 3bp below the TIIE as orders come in three times above the issued amount