An article that appeared in the Feb. 27 edition of the Prospect News Emerging Markets Daily misstated the total deal size for Mexico’s issue of 2024 and 2045 notes. The corrected story follows.
By Christine Van Dusen
Atlanta, Feb. 27 – Mexico priced €2.5 billion of notes due March 6, 2024 and 2045 (expected ratings: A3/BBB+/BBB+), a market source said.
The €1.25 billion 1 5/8% notes due 2024 priced at 99.486 to yield 1.687%, or mid-swaps plus 110 basis points, tighter than talk in the 120 bps area.
The €1.25 billion 3% notes due 2045 priced at 98.199 to yield 3.093%, or mid-swaps plus 190 bps. The notes were talked at a spread in the 195 bps area.
Barclays, Deutsche Bank and Santander were the bookrunners for the Securities and Exchange Commission-registered deal.
The proceeds will be used for general governmental purposes.
| Issuer: | Mexico
|
| Amount: | €2.5 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Deutsche Bank, Santander
|
| Trade date: | Feb. 26
|
| Settlement date: | March 6
|
| Expected ratings: | Moody’s: A3
|
| Standard & Poor’s: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
|
|
| Notes due 2024
|
| Amount: | €1.25 billion
|
| Maturity: | March 6, 2024
|
| Coupon: | 1 5/8%
|
| Price: | 99.486
|
| Yield: | 1.687%
|
| Spread: | Mid-swaps plus 110 bps
|
| Price talk: | Mid-swaps plus 120 bps area
|
| Call option: | Make-whole call at Bunds plus 20 bps
|
|
|
| Notes due 2045
|
| Amount: | €1.25 billion
|
| Maturity: | March 6, 2045
|
| Coupon: | 3%
|
| Price: | 98.199
|
| Yield: | 3.093%
|
| Spread: | Mid-swaps plus 190 bps
|
| Price talk: | Mid-swaps plus 195 bps area
|
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