IDB Invest cuts costs on Mexican floater

IDB Invest cuts costs on Mexican floater

Bonds Debt Capital Markets Corporate & Sovereign Strategy Mexico Dominican Republic Paraguay Jamaica United States

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

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