By Christine Van Dusen
Atlanta, Aug. 8 – Mexico priced a $2.76 billion two-tranche issue of notes due in 2026 and 2047 (expected ratings: A3/BBB+/BBB+), a syndicate source said.
The $760 million tap of the 4 1/8% notes due Jan. 21, 2026 priced at 108.831 to yield 3.042%, or Treasuries plus 145 basis points. The notes were talked in the 165 basis points area.
The original issue priced in January at 99.676 to yield 4.165%, or Treasuries plus 210 bps.
The new $2 billion 4.35% notes due 2047 priced at 99.735 to yield 4.366%, or Treasuries plus 205 bps. The notes were talked in the 225 bps area.
BBVA, BofA Merrill Lynch and Credit Suisse were the bookrunners for the Securities and Exchange Commission-registered deal.
The sovereign will use the proceeds for the redemption of part or all of its outstanding 5 5/8% notes due 2017.
| Issuer: | Mexico
|
| Amount: | $2.76 billion
|
| Description: | Notes
|
| Bookrunners: | BBVA, BofA Merrill Lynch, Credit Suisse
|
| Trade date: | Aug. 8
|
| Expected ratings: Moody's: A3
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | Securities and Exchange Commission registered
|
|
|
| January 2026 tap
|
| Amount: | $760 million
|
| Maturity: | Jan. 21, 2026
|
| Coupon: | 4 1/8%
|
| Price: | 108.831
|
| Yield: | 3.042%
|
| Spread: | Treasuries plus 145 bps
|
| Price talk: | Treasuries plus 165 bps area
|
|
|
| Thirty-year notes
|
| Amount: | $2 billion
|
| Maturity: | 2047
|
| Coupon: | 4.35%
|
| Price: | 99.735
|
| Yield: | 4.366%
|
| Spread: | Treasuries plus 205 bps
|
| Price talk: | Treasuries plus 225 bps area
|
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