By Marisa Wong
Los Angeles, April 7 – Mexico priced $3,256,899,000 of 4.28% notes due Aug. 14, 2041 (Baa1/BBB/BBB-) at 99.938 to yield 4.285%, according to an FWP filed Wednesday with the Securities and Exchange Commission.
The deal was upsized to $3.26 billion from a previously reported $2.5 billion.
An earlier FWP filing stated that the $3.26 billion includes about $760 million of notes intended to fund the purchase of outstanding preferred tenders under Mexico’s concurrent tender offer for nine series of existing notes. After announcing the tender results, Mexico set the final issue size at $3,256,899,000.
The notes priced at a spread of Treasuries plus 205 basis points. Price talk was in the Treasuries plus 240 bps area, according to a market source.
BBVA Securities Inc., BofA Securities Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the joint bookrunners.
Application will be made for the new notes to be listed on the Luxembourg Stock Exchange and to trade on the Euro MTF Market.
Related to the new notes offering, Mexico was tendering for cash some of nine series of outstanding notes.
| Issuer: | Mexico
|
| Issue: | Notes
|
| Amount: | $3,256,899,000
|
| Maturity: | Aug. 14, 2041
|
| Bookrunners: | BBVA Securities Inc., BofA Securities Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC
|
| Coupon: | 4.28%
|
| Price: | 99.938
|
| Yield: | 4.285%
|
| Spread: | Treasuries plus 205 bps
|
| Call features: | Prior to Feb. 14, 2041, make-whole call at Treasuries plus 35 bps; after that, par call
|
| Trade date: | April 6
|
| Settlement date: | April 14
|
| Price talk: | Treasuries plus 240 bps area
|
| Listing: | Luxembourg Stock Exchange
|
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