Mexico talks euro-denominated 15-year sustainable bonds at mid-swaps plus 220 bps area

By Rebecca Melvin

Concord, N.H., July 6 – Mexico was talking a euro-denominated offering of 15-year sustainable bonds to yield in the area of mid-swaps plus 220 basis points, according to a market source.

The notes (expected ratings: Baa1/BBB/BBB-), which will mature in August 2036, have a make-whole call and a three-month par call.

There is a short first coupon for the deal expected to settle on July 12.

BNP Paribas, BofA Securities Inc. and Natixis Securities Americas LLC are the joint bookrunners.

The proceeds from the sale of the bonds are to be used to fund budgetary programs that qualify as eligible sustainable development goals expenditures under the SDG Sovereign Bond Framework.

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