November 1, 2009
The new certificados de capital de desarollo (CCDs) give Mexicos pension funds the ability to invest in debt instruments that provide equity upside.This is probably the most important change in the Mexican financing market that weve seen recently, Mexicos head of public credit Gerardo Rodriguez tells LatinFinance. Credit Suisse, which crafted the first such trade in a 2008 offering for AGSA, was heard in mid-October to be close to landing follow-up offerings for Wamex and Macquarie, and HSBC is brewing an offering for Grupo House and Geo Maquinaria.
Meanwhile, Marhnos Infraestructura was expected to place up to 2 billion pesos in 20-30-year paper t
Mexican bankers are racing to put together a new series of structured deals that aim to channel substantial captive local funds into essential long-term infrastructure projects.